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On the determination of optimal time horizon in a control problem in natural resource economics. (English) Zbl 0841.90044

In this paper some results of J. Highfill and M. McAsey [Int. J. Math. Math. Sci. 14, No. 3, 537-544 (1991; Zbl 0755.90017)] on the control problem of optimal extraction of natural resources are extended to cover all strictly concave utility functions.
Reviewer: O.Cârjá (Iaşi)

MSC:

91B76 Environmental economics (natural resource models, harvesting, pollution, etc.)
49K15 Optimality conditions for problems involving ordinary differential equations
91B62 Economic growth models

Citations:

Zbl 0755.90017
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