Title

Optimal extraction with grade variation and endogenous reserves

Publication Type

Journal Article

Publication Date

1-1984

Abstract

This paper describes and analyzes a simple model of a competitive firm engaged in non-petroleum resource extraction. It allows for grade variation within a mineral deposit, treats as endogenous the determination of reserves and distinguishes between ore throughput and metal output. The central result is a characterization of the optimal intertemporal extraction profile. A numerical example illustrates the main principle of quality selection.

Discipline

Economics

Research Areas

Applied Microeconomics

Publication

Resources and Energy

Volume

6

Issue

4

First Page

331

Last Page

338

ISSN

0165-0572

Identifier

10.1016/0165-0572(84)90001-X

Additional URL

http://api.elsevier.com/content/abstract/scopus_id:0021619649

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