IDEAS home Printed from https://ideas.repec.org/a/cvv/journ1/v3y2016i1p12-31.html

Dynamical Methods Applied in Natural Resource Economics

Author

Listed:
  • George E. HALKOS

  • George J. PAPAGEORGIOU

    (Laboratory of Operations Research, Greece.)

Abstract

This paper presents, in brief, the fundamentals of optimal control theory together with some notes for differential games, which is the game theoretic analogue of the optimal control. As it is recommended by literature references the main tool of analysis in open loop information structure for environmental models is the Pontryagin s Maximum Principle, while the Hamilton Jacobi Bellman equation is the tool of analysis for any closed loop informational structure. As applications of the above theoretic considerations we present some environmental economic models which are solved both as optimal control problems and as differential games as well.

Suggested Citation

  • George E. HALKOS & George J. PAPAGEORGIOU, 2016. "Dynamical Methods Applied in Natural Resource Economics," Journal of Economics and Political Economy, EconSciences Journals, vol. 3(1), pages 12-31, March.
    • Handle: RePEc:cvv:journ1:v:3:y:2016:i:1:p:12-31
    as

    Download full text from publisher

    File URL: http://journals.econsciences.com/index.php/JEPE/article/download/663/689
    Download Restriction: no
    File URL: http://journals.econsciences.com/index.php/JEPE/article/view/663
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

    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:cvv:journ1:v:3:y:2016:i:1:p:12-31. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Bilal KARGI (email available below). General contact details of provider: https://journals.econsciences.com/index.php/JEPE .

    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.