2007年2月
Long-run average welfare in a pollution accumulation model
JOURNAL OF ECONOMIC DYNAMICS & CONTROL
- ,
- 巻
- 31
- 号
- 2
- 開始ページ
- 703
- 終了ページ
- 720
- 記述言語
- 英語
- 掲載種別
- DOI
- 10.1016/j.jedc.2006.04.001
- 出版者・発行元
- ELSEVIER SCIENCE BV
This paper studies the pollution accumulation problem so as to maximize the long-run average welfare within a stochastic framework. We consider a sequence of optimal pollution accumulation problems under the discounted criterion. The Hamilton-Jacobi-Bellman (HJB, for short) equation associated with the long-run average problem is obtained as a limit of HJB equations For discounted models. In particular, we solve the problem for first-order disutility functions and present some comparative dynamics results. (C) 2006 Elsevier B.V. All rights reserved.
- リンク情報
- ID情報
-
- DOI : 10.1016/j.jedc.2006.04.001
- ISSN : 0165-1889
- Web of Science ID : WOS:000244189800015