Hotelling's exhaustible resource extraction model as a linear program

We "translate" Hotelling's continuous-time, exhaustible resource extraction Model of 1931 into a linear program of present value extraction cost minimization subject to a stock endowment and period by period demand constraints. The appropriate form of the demand constraints allows for resource rent rising at the rate of interest in the dual program. A useful variant has the stock size endogenous.

MoreLess

Year of publication:	2023
Authors:	Hartwick, John M.
Publisher:	Kingston (Ontario) : Queen's University, Department of Economics
Subject:	resource extraction \| linear program \| rent and interest rate

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Queen’s Economics Department Working Paper ; 1506
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1878484044 [GVK]
Classification:	Q32 - Exhaustible Resources and Economic Development ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; D46 - Value Theory
Source:	EconStor

Persistent link: https://www.econbiz.de/10014564097