Abstract
One considers a class of neoclassical economic growth models where one commodity is a natural resource. Turnpike properties are proved for the finite horizon dynamic optimization problem and conditions are given for the existence of optimal programmes in the infinite horizon case. Some simple examples illustrate these findings.
This research was supported by Canada Council (Grant S74-1122) and by the Ministère de l'Education du Québec DGES, FCAC.
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References
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Haurie, A., Hung, N.M. (1976). On the optimal control of natural resource use in the neoclassical economic framework. In: Cea, J. (eds) Optimization Techniques Modeling and Optimization in the Service of Man Part 1. Optimization Techniques 1975. Lecture Notes in Computer Science, vol 40. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-07622-0_500
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DOI: https://doi.org/10.1007/3-540-07622-0_500
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