Regular and exploratory resource extraction models considering sustainability

Regular and exploratory resource extraction models considering sustainability

We formulate an optimal control problem of resource extraction, where a decision maker with sustainability concern dynamically controls the extraction rate. We assume harvesting to increase profit and incur a risk of resource depletion and aim to resolve sustainability concerns. The optimality equat...

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Bibliographic Details
Main Author: Hidekazu Yoshioka
Format: Article
Language:English
Published: Elsevier 2024-08-01
Series:Results in Applied Mathematics
Subjects:
Resource extraction
Regular control
Exploratory control
Hamilton–Jacobi–Bellman equation
Fully-implicit finite difference method
Online Access:http://www.sciencedirect.com/science/article/pii/S2590037424000542

Internet

http://www.sciencedirect.com/science/article/pii/S2590037424000542

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