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Optimal Consumption of a Nonrenewable Resource with Stochastic Discoveries and a Random Environment

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Publication:4750389
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DOI10.2307/2297680zbMath0511.90051OpenAlexW2032103664MaRDI QIDQ4750389

Stanley R. Pliska, Sudhakar D. Deshmukh

Publication date: 1983

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: http://www.kellogg.northwestern.edu/research/math/papers/500.pdf


zbMATH Keywords

optimal consumption of a nonrenewable resourcestorage process with Markov additive discoveriestwo kinds of uncertainties


Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)


Related Items

Toward realistic microeconomic models of mineral exploitation. I ⋮ Deterministic asymmetric-cost differential games for energy production with production bounds ⋮ A martingale characterization of the price of a nonrenewable resource with decisions involving uncertainty




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