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Optimal pollution control under imprecise environmental risk and irreversibility

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  • CHEVE, MORGANE
  • CONGAR, RONAN

Abstract

This paper deals with a model of pollution accumulation in which a catastrophic environmental event occurs once the pollution stock exceeds some uncertain critical level. This problem is studied in a context of ‘hard uncertainty’ since we consider that the available knowledge concerning the value taken by the critical pollution threshold contains both randomness and imprecision. Such a general form of knowledge is modelled as a (closed) random interval. This approach is mathematically tractable and amenable to numerical simulations. In this framework we investigate the effect of hard uncertainty on the optimal pollution/consumption trade-off and we compare the results with those obtained both in the certainty case and in the case of ‘soft uncertainty’ (where only randomness prevails).

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  • Cheve, Morgane & Congar, Ronan, 2000. "Optimal pollution control under imprecise environmental risk and irreversibility," Risk, Decision and Policy, Cambridge University Press, vol. 5(2), pages 151-164, June.
    • Handle: RePEc:cup:rdepol:v:5:y:2000:i:02:p:151-164_00
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    Cited by:

    1. Anastasios Xepapadeas & Catarina Roseta-Palma, 2013. "Instabilities and robust control in natural resource management," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 12(3), pages 161-180, December.
    2. Daniel C. Voica & Troy G. Schmitz, 2022. "Trading risk for ambiguity: Production versus health under pesticide application," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(4), pages 1327-1342, August.
    3. Anastasios Xepapadeas & Catarina Roseta-Palma, 2003. "Instabilities and Robust Control in Fisheries," Working Papers 2003.110, Fondazione Eni Enrico Mattei.

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