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Optimal Consumption of A Nonrenewable Resource with Stochastic Discoveries and a Random Environment

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  • Sudhakar D. Deshmukh
  • Stanley R. Pliska
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    File URL: http://www.kellogg.northwestern.edu/research/math/papers/500.pdf
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    Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 500.

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    Date of creation: Oct 1981
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    Handle: RePEc:nwu:cmsems:500

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    References

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    1. Kamien, Morton I & Schwartz, Nancy L, 1978. "Optimal Exhaustible Resource Depletion with Endogenous Technical Change," Review of Economic Studies, Wiley Blackwell, vol. 45(1), pages 179-96, February.
    2. Long, Ngo Van, 1975. "Resource extraction under the uncertainty about possible nationalization," Journal of Economic Theory, Elsevier, vol. 10(1), pages 42-53, February.
    3. Heal, Geoffrey M., 1993. "The optimal use of exhaustible resources," Handbook of Natural Resource and Energy Economics, in: A. V. Kneeseā€  & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 18, pages 855-880 Elsevier.
    4. Arrow, Kenneth J. & Chang, Sheldon, 1982. "Optimal pricing, use, and exploration of uncertain natural resource stocks," Journal of Environmental Economics and Management, Elsevier, vol. 9(1), pages 1-10, March.
    5. Gilbert, Richard J, 1979. "Optimal Depletion of an Uncertain Stock," Review of Economic Studies, Wiley Blackwell, vol. 46(1), pages 47-57, January.
    6. Weinstein, Milton C & Zeckhauser, Richard J, 1975. "The Optimal Consumption of Depletable Natural Resources," The Quarterly Journal of Economics, MIT Press, vol. 89(3), pages 371-92, August.
    7. Deshmukh, Sudhakar D & Pliska, Stanley R, 1980. "Optimal Consumption and Exploration of Nonrenewable Resources under Uncertainty," Econometrica, Econometric Society, vol. 48(1), pages 177-200, January.
    8. Loury, Glenn C, 1978. "The Optimal Exploitation of an Unknown Reserve," Review of Economic Studies, Wiley Blackwell, vol. 45(3), pages 621-36, October.
    9. Dasgupta, Partha & Stiglitz, Joseph, 1981. "Resource Depletion under Technological Uncertainty," Econometrica, Econometric Society, vol. 49(1), pages 85-104, January.
    10. Cropper, M. L., 1976. "Regulating activities with catastrophic environmental effects," Journal of Environmental Economics and Management, Elsevier, vol. 3(1), pages 1-15, June.
    11. Pindyck, Robert S, 1980. "Uncertainty and Exhaustible Resource Markets," Journal of Political Economy, University of Chicago Press, vol. 88(6), pages 1203-25, December.
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    Cited by:
    1. Sudhakar D. Deshmukh & Stanley R. Pliska, 1981. "Natural Energy Resource Decisions and Prices Involving Incertainty," Discussion Papers 499, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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