IDEAS home Printed from https://ideas.repec.org/a/ags/jlaare/50082.html

A Practical Algorithm for Multiple-Phase Control Systems in Agricultural and Natural Resource Economics

Author

Listed:
  • Doole, Graeme J.

Abstract

Many important problems in agricultural and natural resource economics concern an intertemporal choice between alternate dynamic systems. This significance has motivated a theoretical literature generalizing the necessary conditions of Optimal Control Theory to multiple-phase problems. However, gaining detailed insight into their practical management is difficult because general numerical solution methods are not available. This paper resolves this deficiency through the development of a flexible and efficient computational algorithm based on a set of necessary conditions derived for finite-time, multiple-phase systems. Its effectiveness is demonstrated in an application to a nontrivial crop rotation problem.

Suggested Citation

  • Doole, Graeme J., 2009. "A Practical Algorithm for Multiple-Phase Control Systems in Agricultural and Natural Resource Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(01), pages 1-21, April.
    • Handle: RePEc:ags:jlaare:50082
    DOI: 10.22004/ag.econ.50082
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/50082/files/Doole.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.50082?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kenneth E. McConnell, 1983. "An Economic Model of Soil Conservation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 83-89.
    2. Russell J. Gorddard & David J. Pannell & Greg Hertzler, 1995. "An Optimal Control Model For Integrated Weed Management Under Herbicide Resistance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 39(1), pages 71-87, April.
    3. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
    4. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, December.
    5. Koundouri, Phoebe & Christou, Christina, 2006. "Dynamic adaptation to resource scarcity and backstop availability: theory and application to groundwater," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), pages 1-19, June.
    6. Pannell, David J. & Stewart, Vanessa & Bennett, Anne & Monjardino, Marta & Schmidt, Carmel & Powles, Stephen B., 2004. "RIM: a bioeconomic model for integrated weed management of Lolium rigidum in Western Australia," Agricultural Systems, Elsevier, vol. 79(3), pages 305-325, March.
    7. Raphael Amit, 1986. "Petroleum Reservoir Exploitation: Switching from Primary to Secondary Recovery," Operations Research, INFORMS, vol. 34(4), pages 534-549, August.
    8. Makris, Miltiadis, 2001. "Necessary conditions for infinite-horizon discounted two-stage optimal control problems," Journal of Economic Dynamics and Control, Elsevier, vol. 25(12), pages 1935-1950, December.
    9. Renan U. Goetz, 1997. "Diversification in Agricultural Production: A Dynamic Model of Optimal Cropping to Manage Soil Erosion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 341-356.
    10. Graeme J. Doole, 2008. "Optimal management of annual ryegrass (Lolium rigidum Gaud.) in phase rotations in the Western Australian Wheatbelt ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(3), pages 339-362, September.
    11. Kim, C. S. & Moore, Michael R. & Hanchar, John J. & Nieswiadomy, Michael, 1989. "A dynamic model of adaptation to resource depletion: theory and an application to groundwater mining," Journal of Environmental Economics and Management, Elsevier, vol. 17(1), pages 66-82, July.
    12. Graeme J. Doole & David J. Pannell, 2008. "Optimisation of a Large, Constrained Simulation Model using Compressed Annealing," Journal of Agricultural Economics, Wiley Blackwell, vol. 59(1), pages 188-206, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. MacEwan, Duncan & Howitt, Richard E., 2011. "Estimating Crop Rotations as Dynamic Cycles using Field Data," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103635, Agricultural and Applied Economics Association.
    2. MacEwan, Duncan & Howitt, Richard E., 2011. "An Empirical Model of Crop Rotations," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia 100581, Australian Agricultural and Resource Economics Society.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nasim, Sanval & Helfand, Steven & Dinar, Ariel, 2020. "Groundwater management under heterogeneous land tenure arrangements," Resource and Energy Economics, Elsevier, vol. 62(C).
    2. Jacobs, A. & Kingwell, R., 2016. "The Harrington Seed Destructor: Its role and value in farming systems facing the challenge of herbicide-resistant weeds," Agricultural Systems, Elsevier, vol. 142(C), pages 33-40.
    3. Mario Miranda, 2005. "Teaching Computational Economics in an Applied Economics Program," Computational Economics, Springer;Society for Computational Economics, vol. 25(3), pages 229-254, June.
    4. Lorenzo Bretscher & Alex Hsu & Andrea Tamoni, 2019. "Response of the Macroeconomy to Uncertainty Shocks:the Risk Premium Channel," 2019 Meeting Papers 1567, Society for Economic Dynamics.
    5. Mitchell, Paul D., 2011. "Economic Assessment of the Benefits of Chloro-s-triazine Herbicides to U.S. Corn, Sorghum, and Sugarcane Producers," Staff Paper Series 564, University of Wisconsin, Agricultural and Applied Economics.
    6. Cacho, Oscar J., 1999. "Valuing Agroforestry In The Presence Of Land Degradation," Working Papers 12931, University of New England, School of Economics.
    7. Lohano, Heman Das, 2002. "A Stochastic Dynamic Programming Analysis of Farmland Investment and Financial Management," Faculty and Alumni Dissertations 309035, University of Minnesota, Department of Applied Economics.
    8. Couture, Stéphane & Reynaud, Arnaud, 2011. "Forest management under fire risk when forest carbon sequestration has value," Ecological Economics, Elsevier, vol. 70(11), pages 2002-2011, September.
    9. Graeme J. Doole & David J. Pannell, 2009. "Evaluating combined land conservation benefits from perennial pasture: lucerne (Medicago sativa L.) for management of dryland salinity and herbicide resistance in Western Australia ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(2), pages 231-249, April.
    10. Mosiño, Alejandro & Pommeret, Aude, 2015. "Switching to clean(er) technologies in a stochastic environment," MPRA Paper 83841, University Library of Munich, Germany.
    11. Miao, Jianjun & Wang, Neng, 2007. "Investment, consumption, and hedging under incomplete markets," Journal of Financial Economics, Elsevier, vol. 86(3), pages 608-642, December.
    12. Alejandro Mosiño, 2012. "Using Chebyshev Polynomials to Approximate Partial Differential Equations: A Reply," Computational Economics, Springer;Society for Computational Economics, vol. 39(1), pages 13-27, January.
    13. Beltran, Jesusa C. & Pannell, David J. & Doole, Graeme J. & White, Benedict, 2012. "Economic analysis of integrated weed management strategies for annual barnyardgrass (Echinochloa crus-galli complex) in Philippine rice farming systems," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124236, Australian Agricultural and Resource Economics Society.
    14. Suresh M. Sundaresan, 2000. "Continuous‐Time Methods in Finance: A Review and an Assessment," Journal of Finance, American Finance Association, vol. 55(4), pages 1569-1622, August.
    15. Nikolaj Malchow-Moeller & Bo Jellesmark Thorsen, "undated". "A Dynamic Agricultural Household Model with Uncertain Income and Irreversible and Indivisible Investments under Credit Constraints," Economics Working Papers 2000-7, Department of Economics and Business Economics, Aarhus University.
    16. Ekbom, Anders & Brown, Gardner M. & Sterner, Thomas, 2009. "Muddy Waters: Soil Erosion and Downstream Externalities," Working Papers in Economics 341, University of Gothenburg, Department of Economics.
    17. Ngo Van Long & Fabien Prieur & Klarizze Puzon & Mabel Tidball, 2013. "Markov Perfect Equilibria in Differential Games with Regime Switching Strategies," Working Papers 13-06, LAMETA, Universtiy of Montpellier, revised Jan 2014.
    18. Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012. "Optimal Regime Switching and Threshold Effects: Theory and Application to a Resource Extraction Problem under Irreversibility," Working Papers halshs-00793200, HAL.
    19. Phoebe Koundouri & Nikolaos Englezos & Xanthi Kartala & Mike Tsionas, 2019. "A Decision-Analytic Framework to explore the water-energy-food nexus in complex and transboundary water resources systems, with Climate Change Uncertainty," DEOS Working Papers 1907, Athens University of Economics and Business.
    20. Thomas, Timothy S., 1999. "Transformation Of Fallow Systems Under Population Pressure," 1999 Annual meeting, August 8-11, Nashville, TN 21603, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Keywords

    ;
    ;

    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:ags:jlaare:50082. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/waeaaea.html .

    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.