Optimal Consumption of a Nonrenewable Resource with Stochastic Discoveries and a Random Environment
- 1 July 1983
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 50 (3) , 543-554
- https://doi.org/10.2307/2297680
Abstract
We present a general model for the optimal consumption of a nonrenewable resource under two kinds of uncertainties. One source of uncertainty is in tKeywords
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