Exploration in competitive nonrenewable resource markets : an extension of Pindyck's perfect foresight model

dc.contributor.author	Laughton, David G.
dc.date.accessioned	2005-09-15T14:50:28Z
dc.date.available	2005-09-15T14:50:28Z
dc.date.issued	1986
dc.identifier.other	19524090
dc.identifier.uri	http://hdl.handle.net/1721.1/27270
dc.description.abstract	Pindyck's model of exploration for, and production of, a non-renewable resource (Pindyck 1978) is extended so that the production cost function may depend separately on concurrently available reserves and on the total amount of past production. A method for obtaining the optimal trajectory of parameterised specifications of the model is tested on elaborations of a corrected version of the parameterised specification used by Pindyck in his paper. The initial price for each simulation is tabulated.	en
dc.description.sponsorship	SSHRC Canada and the Sloan School of Management, MIT	en
dc.format.extent	1308793 bytes
dc.format.mimetype	application/pdf
dc.language.iso	en_US	en
dc.publisher	MIT Energy Lab	en
dc.relation.ispartofseries	MIT-EL	en
dc.relation.ispartofseries	86-018WP	en
dc.title	Exploration in competitive nonrenewable resource markets : an extension of Pindyck's perfect foresight model	en
dc.type	Working Paper	en