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The optimal carbon sequestration in agricultural soils : does the dynamics of the physical process matter ?

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Author Info
Lionel Ragot () (MEDEE et Centre d'Economie de la Sorbonne)
Katheline Schubert () (Centre d'Economie de la Sorbonne)

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Abstract

The Kyoto Protocol, which came in force in February 2005, allows countries to resort to "supplementary activities" consisting particularly in carbon sequestration in agricultural soils. Existing papers studying the optimal carbon sequestration recognize the importance of the temporality of sequestration, but overlook the fact that it is a dissymmetric dynamic process. This paper takes explicitly into account the temporality of sequestration. Its first contribution is technical : we solve an optimal control problem with two stages and a dissymmetric dynamic process. The second contribution is empirical : we show that the error made when sequestration is supposed immediate can be very significant, and we exhibit numerically the optimal path of sequestration /de-sequestration for specific benefit, damage and cost functions, and a calibration that mimics roughly the world conditions.

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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number v06040.

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Length: 27 pages
Date of creation: Mar 2006
Date of revision:
Handle: RePEc:mse:wpsorb:v06040

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Related research
Keywords: Environment; agriculture; carbon sequestration; Kyoto Protocol; optimal control.;

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Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation

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  1. Feng, Hongli & Zhao, Jinhua & Kling, Catherine, 2002. "Time Path and Implementation of Carbon Sequestration (The)," Staff General Research Papers 5068, Iowa State University, Department of Economics.
  2. Tomiyama, Ken, 1985. "Two-stage optimal control problems and optimality conditions," Journal of Economic Dynamics and Control, Elsevier, vol. 9(3), pages 317-337, November. [Downloadable!] (restricted)
  3. Huseyin cagri SAGLAM, 2002. "Optimal pattern of technology adoption under embodiment with a finite planning horizon : A multi-stage optimal control approach," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002031, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
  4. Feng, Hongli & Zhao, Jinhua & Kling, Catherine L, 2002. " The Time Path and Implementation of Carbon Sequestration," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 84(1), pages 134-49, February. [Downloadable!] (restricted)
  5. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, EconWPA. [Downloadable!]
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