GAUDET, Gérard; MOREAUX, Michel; WITHAGEN, Cees - Département de Sciences Économiques, Université de … - 2005
The purpose of this paper is to characterize the optimal time paths of production and water usage by an agricultural and an oil sector that have to share a limited water resource. We show that for any given water stock, if the oil stock is sufficiently large, it will become optimal to have a...
