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On the optimal control of natural resource use in the neoclassical economic framework

  • A. Haurie
  • N. M. Hung
Operational Research
Part of the Lecture Notes in Computer Science book series (LNCS, volume 40)

Abstract

One considers a class of neoclassical economic growth models where one commodity is a natural resource. Turnpike properties are proved for the finite horizon dynamic optimization problem and conditions are given for the existence of optimal programmes in the infinite horizon case. Some simple examples illustrate these findings.

Keywords

Optimal Programme State Path Infinite Horizon Dynamic Optimization Problem Exhaustible Resource 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag 1976

Authors and Affiliations

  • A. Haurie
    • 1
  • N. M. Hung
    • 1
  1. 1.Ecole des Hautes Etudes CommercialesMontréal

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