| Article ID: | iaor1990798 |
| Country: | United Kingdom |
| Volume: | 11 |
| Issue: | 2 |
| Start Page Number: | 191 |
| End Page Number: | 196 |
| Publication Date: | Apr 1990 |
| Journal: | Optimal Control Applications & Methods |
| Authors: | Sethi Suresh, Sorger Gerhard |
| Keywords: | control processes |
In this paper the authors analyse a control-theoretic model of a country possessing a finite amount of a non-renewable resource. The country can both consume the indigenous resource and export it. Moreover, a substitute for the indigenous resource is available at a given backstop price. The authors obtain the optimal consumption, export and import policy for the country.