A simple characterization of the optimal extraction policy of a non-renewable resource when extraction cost is stock-independent

Sébastien Rouillon

Energy Economics, 2013, vol. 37, issue C, 100-103

Abstract: This note provides a simple characterization of the optimal extraction of a non-renewable resource. The proposed formula determines the solution in its feedback form. It is shown to hold for a large class of models, as long as the utility is stock-independent.

Keywords: Exhaustible resource; Optimal policy; Feedback form; Hotelling rule (search for similar items in EconPapers)
JEL-codes: C61 Q30 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Working Paper: A Simple Characterization of the Optimal Extraction Policy of a Non-Renewable Resource When Extraction Cost is Stock-Independent (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:37:y:2013:i:c:p:100-103

DOI: 10.1016/j.eneco.2013.02.002

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