Title
Resource Extraction and Anticipated Demand Shifts
Document Type
Article
Publication Date
1-1-1980
Abstract
Linking together two optimal control theory problems through Bellman's equation we derive closed form solutions for an extractive industry when a shift in the demand curve is perfectly foreseen. Monopoly and competition are compared.
Publication Title
Economic Letters
Repository Citation
5 Econ. Letters 271 (1980)
DOI
https://doi.org/10.1016/0165-1765(80)90043-9