The paper provides a continuous time version of the well known discrete time Mitra-Wan model of optimal forest management, where a forest is harvested to maximize the utility of timber flow over an infinite time horizon. Besides varying with time, the state variable (describing available trees)...

We report an example of a two-dimensional undiscounted convex optimal growth model in continuous time in which, although there is a unique “golden rule”, no overtaking optimal solutions exists in a full neighbourhood of the steady state. The example confirms a conjecture advanced in 1976...

We study the dynamics of the exploitation of a natural resource, distributed in space and mobile, where spatial diversification is introduced by a network structure. Players are assigned to different nodes by a regulator, after he/she decides at which nodes natural reserves are established....

The paper concerns the study of equilibrium points, or steady states, of economic systems arising in modelling optimal investment with vintage capital, namely, systems where all key variables (capitals, investments, prices) are indexed not only by time τ but also by age s. Capital accumulation...

We study the dynamics of the exploitation of a natural resource distributed among and flowing between several nodes connected via a weighted, directed network. The network represents both the locations and the interactions of the resource nodes. A regulator decides to designate some of the nodes...