Solving the Hotelling Model in Feedback Form
We give a characterization, in feedback form, of the optimal extraction path of an exhaustible resource, which holds for a large class of models.
|Date of creation:||2011|
|Date of revision:|
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- Stiglitz, Joseph E, 1976. "Monopoly and the Rate of Extraction of Exhaustible Resources," American Economic Review, American Economic Association, vol. 66(4), pages 655-61, September.
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