A non-linear discrete-time mathematical program model is proposed to determining the optimal extraction policy for a single primary supplier of a durable non-renewable resource, such as gemstones or some metals. Karush, Kuhn and Tucker conditions allow obtaining analytic solutions and general...

The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...

The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...

The core objective of this research is to arrive at the optimal social extraction path on an investment project level reaching dynamic social optimality with resource depletion, in contrast to the traditional benefit-cost criterion of project feasibility. The focal argument is that marginal...

The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...