Harvesting a Remote Renewable Resource

Stefan Behringer and Thorsten Upmann

VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere. In some cases, it is more realistic to assume that the resource is located at a single point and that the agent is required to travel. The agent faces a combined travelling–and–harvesting problem. We scrutinize this two-stage optimal control problem and characterise the optimal policy of the full travelling–and–harvesting problem.

JEL-codes: C61 Q20 Q22 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-cta and nep-ene
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https://www.econstor.eu/bitstream/10419/168250/1/VfS-2017-pid-3428.pdf (application/pdf)

Related works:
Working Paper: Harvesting a Remote Renewable Resource (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168250

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