The purpose of this paper is to analyze the role of the firm's and the market's discount rate in representative partial equilibrium models of exhaustible resources. Our analysis follows the partial equilibrium approach and our techniques used are those of the deterministic optimal control.
Malliaris, A., Mullady, H., Stefani, S. (1991). Heterogeneous discount rates. A generalization of Hotelling's rule. In R.P. Hämäläinen, H.K. Ehtamo (a cura di), Dynamic Games in Economic Analysis Proceedings of the Fourth International Symposium on Differential Games and Applications August 9–10, 1990, Helsinki University of Technology, Finland (pp. 163-169). Springer Berlin, Heidelberg [10.1007/BFb0006238].
Heterogeneous discount rates. A generalization of Hotelling's rule
STEFANI, SILVANA
1991
Abstract
The purpose of this paper is to analyze the role of the firm's and the market's discount rate in representative partial equilibrium models of exhaustible resources. Our analysis follows the partial equilibrium approach and our techniques used are those of the deterministic optimal control.
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