The optimal carbon sequestration in agricultural soils : does the dynamics of the physical process matter ?
AbstractThe 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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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number v06040.
Length: 27 pages
Date of creation: Mar 2006
Date of revision:
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Environment; agriculture; carbon sequestration; Kyoto Protocol; optimal control.;
Other versions of this item:
- Ragot, Lionel & Schubert, Katheline, 2008. "The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter?," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3847-3865, December.
- Lionel Ragot & Katheline Schubert, 2006. "The optimal carbon sequestration in agricultural soils : does the dynamics of the physical process matter ?," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00115685, HAL.
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - 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; Agriculture and Environment
This paper has been announced in the following NEP Reports:
- NEP-AGR-2006-06-17 (Agricultural Economics)
- NEP-ALL-2006-06-17 (All new papers)
- NEP-ENE-2006-06-17 (Energy Economics)
- NEP-ENV-2006-06-17 (Environmental Economics)
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.:
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Documents de travail du Centre d'Economie de la Sorbonne
12012, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
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