IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-04166457.html
   My bibliography  Save this paper

History-dependent dynamic programming and sustainability: circular economy, optimal management and habits

Author

Listed:
  • Lisa Morhaim

    (Université Paris-Panthéon-Assas)

  • Ayşegül Yıldız Ulus

    (GSU - Galatasaray University)

Abstract

In this paper, we provide a general tractable framework to deal with history-dependent models. We introduce a memory function to define the history formation process. This modeling is designed to apply to various issues within different contexts. It generalizes the one proposed in Morhaim and Ulus[24]. It is also fitted to deal with sustainable economic issues, including environmental models, circular economy and optimal management of natural resources. We provide dynamic programming tools for such models. Without concavity assumptions, we show the existence of a solution and that the value function is the unique fixed point of the Bellman operator.

Suggested Citation

  • Lisa Morhaim & Ayşegül Yıldız Ulus, 2023. "History-dependent dynamic programming and sustainability: circular economy, optimal management and habits," Working Papers hal-04166457, HAL.
  • Handle: RePEc:hal:wpaper:hal-04166457
    Note: View the original document on HAL open archive server: https://hal.science/hal-04166457
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04166457/document
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    History-dependent model Circular Economy Environment Pollution Sustainability Growth Habits Satiation Optimal growth Dynamic programming JEL Classification: C61 D90; History-dependent model; Circular Economy; Environment; Pollution; Sustainability; Growth; Habits; Satiation; Optimal growth; Dynamic programming JEL Classification: C61; D90;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-04166457. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.