Optimal costless extraction rate changes from a non-renewable resource

DOI10.1017/S0956792514000229zbMath1320.91114OpenAlexW1989047827MaRDI QIDQ5499653

Geoffrey W. Evatt, Peter W. Duck, Sydney D. Howell, Paul Johnson

Publication date: 30 July 2015

Published in: European Journal of Applied Mathematics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1017/s0956792514000229

zbMATH Keywords

optimal controlreal optionsdecision under uncertaintysemi-Lagrangianmining

Mathematics Subject Classification ID

Applications of optimal control and differential games (49N90) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Corporate finance (dividends, real options, etc.) (91G50)

Related Items (1)

Stochastic differential game for management of non-renewable fishery resource under model ambiguity

Cites Work

• Fisheries management with stock growth uncertainty and costly capital adjustment
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• A mathematical model of an oil and gas field development process
• An Economic Model for Evaluating Mining and Manufacturing Ventures with Output Yield Uncertainty
• The Mathematics of Financial Derivatives
• Valuing managerial flexibility: an application of real-option theory to mining investments

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