Optimal Control of Pollution Accumulation with Long-Run Average Welfare
Optimal Control of Pollution Accumulation with Long-Run Average Welfare
复制标题
具有长期平均福利的污染累积优化控制
DOI:
10.1023/b:eare.0000003609.50884.41
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发表时间:
2003
期刊:
影响因子:
--
通讯作者:
Kazuhito Kawaguchi
中科院分区:
文献类型:
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作者:
Kazuhito Kawaguchi
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.