Optimal exploration and consumption of a natural resource-deterministic case

DOI10.1002/oca.4660020102zbMath0465.49015OpenAlexW3122067159MaRDI QIDQ3917082

N. A. Derzko, Suresh P. Sethi

Publication date: 1981

Published in: Optimal Control Applications and Methods (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1002/oca.4660020102

zbMATH Keywords

dynamic programmingmethod of characteristicsinfinite time horizoneconomic modelsexhaustible natural resourcesoptimal exploration and consumption

Mathematics Subject Classification ID

Dynamic programming in optimal control and differential games (49L20) Economic growth models (91B62) Optimality conditions (49K99)

Related Items (2)

A stochastic control model of investment and consumption with applications to financial economics ⋮ Anwendungen des Maximumprinzips im Operations Research. I

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