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.
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| Format: | Article |
| Language: | English |
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Hindawi Limited
1995-01-01
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| Series: | International Journal of Mathematics and Mathematical Sciences |
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| Online Access: | http://dx.doi.org/10.1155/S0161171295000780 |
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doaj-1bdab1150e7b4de9bc9e46065f2b76762020-11-24T22:52:43ZengHindawi LimitedInternational Journal of Mathematics and Mathematical Sciences0161-17121687-04251995-01-0118361762010.1155/S0161171295000780On the determination of optimal time horizon in a control problem in natural resource economicsRamesh C. Kumar0Fadle M. Naqib1Department of Economics, University of Waterloo, Ontario, Waterloo N2L 3G1, CanadaDepartment of Economics, University of Waterloo, Ontario, Waterloo N2L 3G1, CanadaThis 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.http://dx.doi.org/10.1155/S0161171295000780optimal controlexhaustible resourcestime horizon. |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Ramesh C. Kumar Fadle M. Naqib |
| spellingShingle |
Ramesh C. Kumar Fadle M. Naqib On the determination of optimal time horizon in a control problem in natural resource economics International Journal of Mathematics and Mathematical Sciences optimal control exhaustible resources time horizon. |
| author_facet |
Ramesh C. Kumar Fadle M. Naqib |
| author_sort |
Ramesh C. Kumar |
| title |
On the determination of optimal time horizon in a control problem in natural resource economics |
| title_short |
On the determination of optimal time horizon in a control problem in natural resource economics |
| title_full |
On the determination of optimal time horizon in a control problem in natural resource economics |
| title_fullStr |
On the determination of optimal time horizon in a control problem in natural resource economics |
| title_full_unstemmed |
On the determination of optimal time horizon in a control problem in natural resource economics |
| title_sort |
on the determination of optimal time horizon in a control problem in natural resource economics |
| publisher |
Hindawi Limited |
| series |
International Journal of Mathematics and Mathematical Sciences |
| issn |
0161-1712 1687-0425 |
| publishDate |
1995-01-01 |
| description |
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. |
| topic |
optimal control exhaustible resources time horizon. |
| url |
http://dx.doi.org/10.1155/S0161171295000780 |
| work_keys_str_mv |
AT rameshckumar onthedeterminationofoptimaltimehorizoninacontrolprobleminnaturalresourceeconomics AT fadlemnaqib onthedeterminationofoptimaltimehorizoninacontrolprobleminnaturalresourceeconomics |
| _version_ |
1725664836359028736 |