Discontinuous Extraction of a Nonrenewable Resource
This paper examines the sequence of optimal extraction of nonrenewable resources in the presence of multiple demands. We provide conditions under which extraction of a nonrenewable resource may be discontinuous over the course of its depletion.
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- Amigues, J-P & Favard, P.author-name: Gaudet, G. & Moreaux, M, 1996.
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200401, University of Hawaii at Manoa, Department of Economics.
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