The extraction of natural resources from two sites under uncertainty

Economics Letters

Volumn 51, Issue 3, 1996, Pages 309-313

  Epstein, Gil S ^a  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

Decisions; Information; Uncertainty

Indexed keywords

EID: 0030306141     PISSN: 01651765     EISSN: None     Source Type: Journal    
DOI: 10.1016/0165-1765(96)00812-9     Document Type: Article

References (6)

1. Banks, J.S. and R.K. Sundaram, 1992, Denumerable-armed bandits, Econometrica 60, 1071-1096.
2. Barlow, R.E. and F. Proschan, 1975, Statistical theory of reliability and life testing (Holt, Rinehart and Winston, Austin, TX).
3. Epstein, G.S., 1995, Changing a decision taken under incomplete information during the process of execution, Journal of Economic Behavior and Organization, in press.
4. Feliz, R.A., 1993, The optimal extraction rate of a natural resource under uncertainty, Economics Letters 43, 231-234.
5. Gittins, J. and D. Jones, 1974, A dynamic allocation index for the sequential allocation of experiments in: Progress in statistics (North-Holland, Amsterdam).
6. Rothschild, M., 1974, A two-armed bandit theory of market pricing, Journal of Economic Theory 9, 185-202.