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On the dynamics of renewable resource harvesting and pollution control

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Author Info
Olli Tahvonen
Abstract

The paper presents a dynamic partial equilibrium model which combines optimal renewable resource harvesting and optimal pollution control. Pollution accumulates as a slowly decaying stock and is assumed to affect the growth and the quality of the renewable resource stock. The aim is to maximize a social welfare functional which gives the present value of the difference between natural resource benefits and pollution control costs. The existence, uniqueness and the dynamic properties of the steady states are investigated. The analysis also gives a general result concerning the steady state of any two state variable optimal control problems. Copyright Kluwer Academic Publishers 1991

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File URL: http://hdl.handle.net/10.1007/BF00305953
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

Volume (Year): 1 (1991)
Issue (Month): 1 (March)
Pages: 97-117
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Handle: RePEc:kap:enreec:v:1:y:1991:i:1:p:97-117

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Related research
Keywords: Renewable resources; pollution control;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Brock, William A. & Scheinkman, JoseA., 1976. "Global asymptotic stability of optimal control systems with applications to the theory of economic growth," Journal of Economic Theory, Elsevier, vol. 12(1), pages 164-190, February. [Downloadable!] (restricted)
    Other versions:
  2. Kahn, James R. & Kemp, W. Michael, 1985. "Economic losses associated with the degradation of an ecosystem: The case of submerged aquatic vegetation in Chesapeake Bay," Journal of Environmental Economics and Management, Elsevier, vol. 12(3), pages 246-263, September. [Downloadable!] (restricted)
  3. Keeler, Emmett & Spence, Michael & Zeckhauser, Richard, 1972. "The optimal control of pollution," Journal of Economic Theory, Elsevier, vol. 4(1), pages 19-34, February. [Downloadable!] (restricted)
  4. Feinstein, C. D. & Oren, S. S., 1983. "Local stability properties of the modified Hamiltonian dynamic system," Journal of Economic Dynamics and Control, Elsevier, vol. 6(1), pages 387-397, September. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Anastasios Xepapadeas, 1995. "Managing the international commons: Resource use and pollution control," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 5(4), pages 375-391, June. [Downloadable!] (restricted)
  2. David Levhari & Cees Withagen, 1992. "Optimal management of the growth potential of renewable resources," Journal of Economics, Springer, vol. 56(3), pages 297-309, October. [Downloadable!] (restricted)
  3. Karl Farmer, 2000. "Intergenerational natural-capital equality in an overlapping-generations model with logistic regeneration," Journal of Economics, Springer, vol. 72(2), pages 129-152, June. [Downloadable!] (restricted)
  4. Andrea Baranzini & Francois Bourguignon, 1995. "Is sustainable growth optimal?," International Tax and Public Finance, Springer, vol. 2(2), pages 341-356, August. [Downloadable!] (restricted)
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  5. Knowler, Duncan & Barbier, Edward B., 2005. "Managing the Black Sea Anchovy Fishery with Nutrient Enrichment and a Biological Invader," Marine Resource Economics, Marine Resources Foundation, vol. 20(3). [Downloadable!]
  6. Knowler, Duncan & Barbier, Edward B. & Strand, Ivar, 2001. "An Open-Access Model Of Fisheries And Nutrient Enrichment In The Black Sea," Marine Resource Economics, Marine Resources Foundation, vol. 16(3). [Downloadable!]
  7. J. Olsen & James Shortle, 1996. "The optimal control of emissions and renewable resource harvesting under uncertainty," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 7(2), pages 97-115, March. [Downloadable!] (restricted)
  8. Philippe Michel & Gilles Rotillon, 1995. "Disutility of pollution and endogenous growth," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(3), pages 279-300, October. [Downloadable!] (restricted)
  9. Jeroen Bergh, 1993. "A framework for modelling economy-environment-development relationships based on dynamic carrying capacity and sustainable development feedback," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(4), pages 395-412, August. [Downloadable!] (restricted)
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