Uncertainty and Exhaustible Resource Markets.
Demand and reserve uncertainty are included in a simple model of an exhaustible resource market by allowing the demand function and the reserve level to fluctuate via continuous-time stochastic processes. Thus, producers always know current demand and reserves but do not know what demand and reserve...
| Publicado en: | Journal of Political Economy Vol. 88; no. 6; pp. 1203 - 1226 |
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| Formato: | Artículo |
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University of Chicago Press
Dec80
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| Acceso en línea: | Ver este registro en EBSCOhost |