Using discrete-time mathematical programming to optimise the extraction rate of a durable non-renewable resource with a single primary supplier
A non-linear discrete-time mathematical program model is proposed to determining the optimal extraction policy for a single primary supplier of a durable non-renewable resource, such as gemstones or some metals. Karush, Kuhn and Tucker conditions allow obtaining analytic solutions and general proper...
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| Format: | Article |
| Language: | English |
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Elsevier
2017-01-01
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| Series: | Operations Research Perspectives |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214716017300623 |