Optimal management of non-renewable resources using computer simulation

Journal Article · Sat Mar 01 00:00:00 EST 1980 · J. Environ. Manage.; (United States)

OSTI ID:6652983

Sheldon, R A; Hassler, J C

Technical report:A simulation-based optimization technique for determining the optimal production strategy for a non-renewable resource is described. The technique involves use of the Sequential Simplex method to establish the parameters of a series approximation to the true optimal production policy. Profits associated with a given set of management parameters are also calculated. (1diagram, 17 references)

• Research Organization: Univ of Maine
• OSTI ID: 6652983
• Journal Information: J. Environ. Manage.; (United States), Vol. 10:2
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
RESOURCES
MANAGEMENT
COMPUTERIZED SIMULATION
OPTIMIZATION
PROFITS
SIMULATION
290200* - Energy Planning & Policy- Economics & Sociology