STOCK UNCERTAINTY IN RENEWABLE RESOURCE THEORY: THE EXPLOITATION OF AQUIFERS OF UNKNOWN SIZE

The theory of stock uncertainty in the utilization of exhaustible resources is extended to renewable groundwater resources. A complete characterization of the exploitation process is presented, paying special attention to the formulation of the trasversality conditions. Exploration activities are incorporated and fit smoothly within the framework of analysis. Extensions to other renewable situations are outlined.


Issue Date:
1992
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/14208
Total Pages:
32
Series Statement:
Staff Paper P92-2




 Record created 2017-04-01, last modified 2017-08-22

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