IDEAS home Printed from https://ideas.repec.org/p/deg/conpap/c013_031.html
   My bibliography  Save this paper

Environmental and Resource Management under Myopia

Author

Listed:
  • Tomoki Fujii

Abstract

Myopia is important in environmental and resource management. We present a parsimonious extension to a standard dynamic optimization in a continuous time and continuous state setting, which enables a rich description of myopic behavior. In our model, the process of planning future controls and choosing the current control are clearly distinguished. We examine the behavior of various types of myopic agents with a simple non-renewable resource extraction problem. We show that constant discounting may be a poor approximation to myopic agents in our model. We also discuss the relevance of the expiry of extraction permits in resource management.

Suggested Citation

  • Tomoki Fujii, 2008. "Environmental and Resource Management under Myopia," DEGIT Conference Papers c013_031, DEGIT, Dynamics, Economic Growth, and International Trade.
    • Handle: RePEc:deg:conpap:c013_031
    as

    Download full text from publisher

    File URL: http://degit.sam.sdu.dk/papers/degit_13/c013_031.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Non-constant discounting; resource management; myopia; time-consistency; observational equivalence;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

    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:deg:conpap:c013_031. 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: Jan Pedersen (email available below). General contact details of provider: https://edirc.repec.org/data/iehhsdk.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.