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Optimising the extraction rate of a non-durable non-renewable resource in a monopolistic market: a mathematical programming approach

Autor
Corominas, A.; Fossas, E., E. Fossas, E. Fossas-Colet, Enric Fossas, Enric Fossas-Colet
Tipus d'activitat
Article en revista
Revista
SpringerPlus
Data de publicació
2015-09-17
Volum
4
DOI
https://doi.org/10.1186/s40064-015-1276-0 Obrir en finestra nova
Repositori
http://hdl.handle.net/2117/82044 Obrir en finestra nova
URL
http://www.springerplus.com/content/4/1/503 Obrir en finestra nova
Resum
We assume a monopolistic market for a non-durable non-renewable resource such as crude oil, phosphates or fossil water. Stating the problem of obtaining optimal policies on extraction and pricing of the resource as a non-linear program allows general conclusions to be drawn under diverse assumptions about the demand curve, discount rates and length of the planning horizon. We compare the results with some common beliefs about the pace of exhaustion of this kind of resources.
Citació
Corominas, A., Fossas, E. Optimising the extraction rate of a non-durable non-renewable resource in a monopolistic market: a mathematical programming approach. "SpringerPlus", 17 Setembre 2015, vol. 4.
Paraules clau
Non-linear programming, Non-renewable resources, Optimal extraction rate, costs, depletion, exhaustible resources, hotelling rule, mineral economy, natural-resource, oil production, optimal exploration, prices, scarcity rent
Grup de recerca
ACES - Control Avançat de Sistemes d´Energia
SCOM - Supply Chain and Operations Management

Participants

Arxius