On the determination of optimal time horizon in a control problem in natural resource economics
This paper is concerned with issues relating to the determination of optimal time horizon in a typical control problem of optimal extraction of an exhaustible natural resource. The paper extends the recent Highfill-McAsey results to cover all strictly concave utility functions.
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi Limited
1995-01-01
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| Series: | International Journal of Mathematics and Mathematical Sciences |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1155/S0161171295000780 |