Halkos, George and Papageorgiou, George (2015): Dynamical methods in Environmental and Resource Economics.

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Abstract
This paper presents, in brief, the fundamentals of optimal control theory together with some notes for differential games, which is the game theoretic analogue of the optimal control. As it is recommended by literature references the main tool of analysis in open loop information structure for environmental models is the Pontryagin’s Maximum Principle, while the Hamilton–Jacobi–Bellman equation is the tool of analysis for any closed loop informational structure. As applications of the above theoretic considerations we present some environmental economic models which are solved both as optimal control problems and as differential games as well.
Item Type:  MPRA Paper 

Original Title:  Dynamical methods in Environmental and Resource Economics 
Language:  English 
Keywords:  Optimal control; Differential games; Renewable resources; Environmental and Resource Economics. 
Subjects:  C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62  Existence and Stability Conditions of Equilibrium D  Microeconomics > D4  Market Structure, Pricing, and Design > D43  Oligopoly and Other Forms of Market Imperfection H  Public Economics > H2  Taxation, Subsidies, and Revenue > H21  Efficiency ; Optimal Taxation Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q0  General Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2  Renewable Resources and Conservation Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2  Renewable Resources and Conservation > Q20  General Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5  Environmental Economics > Q50  General Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5  Environmental Economics > Q52  Pollution Control Adoption and Costs ; Distributional Effects ; Employment Effects Q  Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q5  Environmental Economics > Q53  Air Pollution ; Water Pollution ; Noise ; Hazardous Waste ; Solid Waste ; Recycling 
Item ID:  67845 
Depositing User:  G.E. Halkos 
Date Deposited:  12. Nov 2015 08:48 
Last Modified:  12. Nov 2015 09:01 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/67845 