MISC

2003年11月

Optimal control of pollution accumulation with long-run average welfare

ENVIRONMENTAL & RESOURCE ECONOMICS
  • K Kawaguchi

26
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
DOI
https://doi.org/10.1023/B:EARE.0000003609.50884.41
Web of Science
https://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcAuth=JSTA_CEL&SrcApp=J_Gate_JST&DestLinkType=FullRecord&KeyUT=WOS:000186609800007&DestApp=WOS_CPL
ID情報
  • DOI : 10.1023/B:EARE.0000003609.50884.41
  • ISSN : 0924-6460
  • Web of Science ID : WOS:000186609800007

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