2003年11月
Optimal control of pollution accumulation with long-run average welfare
ENVIRONMENTAL & RESOURCE ECONOMICS
- 巻
- 26
- 号
- 3
- 開始ページ
- 457
- 終了ページ
- 468
- 記述言語
- 英語
- 掲載種別
- DOI
- 10.1023/B:EARE.0000003609.50884.41
- 出版者・発行元
- KLUWER ACADEMIC PUBL
This paper considers the problem of pollution accumulation in order to maximize the long-run average welfare functional in environmental economics. We approach the problem by solving the associated Hamilton-Jacobi-Bellman equation in the classical sense, via the viscosity solution method. The optimal policy is shown to exist in a feedback from, and the maximum value is also obtained independently of the initial level of pollution. An equilibrium of the optimal stock of pollution is discussed.
- リンク情報
- ID情報
-
- DOI : 10.1023/B:EARE.0000003609.50884.41
- ISSN : 0924-6460
- Web of Science ID : WOS:000186609800007