Hotelling's exhaustible resource extraction model as a linear program

John M. Hartwick

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:	7-2023
Authors:	Hartwick, John M.
Publisher:	Kingston, Ontario, Canada : Department of Economics, Queen's University
Subject:	resource extraction \| linear program \| rent and interest rate \| Mathematische Optimierung \| Mathematical programming \| Theorie \| Theory \| Ressourcenökonomik \| Resource economics \| Erschöpfbare Ressourcen \| Exhaustible resources \| Rohstoffwirtschaft \| Resources sector \| Zins \| Interest rate

freely available

Full text |

More access options

www.econ.queensu.ca

Check Google Scholar

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource (circa 7 Seiten)
Series:	Queen's Economics Department working paper. - Kingston, Ontario : [Verlag nicht ermittelbar], ZDB-ID 2272591-X. - Vol. no. 1506
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/299318 [Handle]
Classification:	Q32 - Exhaustible Resources and Economic Development ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; D46 - Value Theory
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014452434