Environmental management: analytical approximate solutions to the problem of detecting optimal random audit schemes
AbstractIn the contest of environmental management, the problem of minimizing the expected cost due to random checking processes and a possible failure is here addressed. Non-homogeneous Poisson checking processes with continuous non-decreasing intensity are considered, leading to the explicit detection of the sub-optimal solution for exponential or uniform failure density functions. The dynamic of the optimal solution is then analized using the phase-diagram tool.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 0411010.
Length: 13 pages
Date of creation: 29 Nov 2004
Date of revision:
Note: Type of Document - pdf; pages: 13
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Environmental management; audit scheme; random inspections; non-homogeneous Poisson checking process; optimal control; exponential failure density function; uniform failure density function.;
Find related papers by JEL classification:
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
This paper has been announced in the following NEP Reports:
- NEP-ACC-2004-12-12 (Accounting & Auditing)
- NEP-ALL-2004-12-12 (All new papers)
- NEP-ENV-2004-12-12 (Environmental Economics)
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