On the determination of optimal time horizon in a control problem in natural resource economics

Ramesh C. Kumar and Fadle M. Naqib

International Journal of Mathematics and Mathematical Sciences, 1995, vol. 18, 1-4

Abstract:

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.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jijmms:815708

DOI: 10.1155/S0161171295000780

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