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Solving the Hotelling Model in Feedback Form

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  • Sébastien ROUILLON

Abstract

We give a characterization, in feedback form, of the optimal extraction path of an exhaustible resource, which holds for a large class of models.

Suggested Citation

  • Sébastien ROUILLON, 2011. "Solving the Hotelling Model in Feedback Form," Cahiers du GREThA (2007-2019) 2011-19, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    • Handle: RePEc:grt:wpegrt:2011-19
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    File URL: http://cahiersdugretha.u-bordeaux.fr/2011/2011-19.pdf
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    References listed on IDEAS

    as
    1. Stiglitz, Joseph E, 1976. "Monopoly and the Rate of Extraction of Exhaustible Resources," American Economic Review, American Economic Association, vol. 66(4), pages 655-661, September.
    2. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39, pages 137-137.
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    More about this item

    Keywords

    Hotelling rule; exhaustible resource; dynamic programming;
    All these keywords.

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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