Optimal pollution control with distributed delays
We present a model of optimal stock pollution control with distributed delays in the stock accumulation dynamics. Using generic functional forms and a distribution structure that covers a wide range of distributions, we solve analytically the complex dynamic system that arises from the introduction of these distributed delays. Our contribution extends the dynamic optimization literature that focused on the single discrete delay case and develops an original method to address control problems with mixed type functional differential equations. Our results show the qualitative impact of acknowledging these distributed delays on the optimal pollution paths dynamics and identify the occurrence of limit cycles and the stability conditions of such a model that can be used to design efficient environmental policies.
|Date of creation:||2013|
|Date of revision:|
|Contact details of provider:|| Postal: Avenue Léon Duguit, 33608 Pessac Cedex|
Phone: +33 (0)126.96.36.199.75
Fax: +33 (0)188.8.131.52.47
Web page: http://gretha.u-bordeaux4.fr/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cyril Bourgeois & Pierre-Alain Jayet, 2010. "Revisited water-oriented relationships between a set of farmers and an aquifer: accounting for lag effect," Working Papers 2010/06, INRA, Economie Publique.
- Hippolyte d'Albis & Emmanuelle Augeraud-Véron & Hermen Jan Hupkes, 2012.
"Discontinuous Initial Value Problems for Functional Differential-Algebraic Equations of Mixed Type,"
Documents de travail du Centre d'Economie de la Sorbonne
12043, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Hippolyte D'Albis & Emmanuelle Augeraud-Véron & Hermen Jan Hupkes, 2012. "Discontinuous Initial Value Problems for Funtional Differential-Algebraic Equations of Mixed Type," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00717412, HAL.
- Hippolyte D'Albis & Emmanuelle Augeraud-Véron & Hermen Jan Hupkes, 2012. "Discontinuous initial value problems for functional differential-algebraic equations of mixed type," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00759204, HAL.
- Tahvonen, Olli & Salo, Seppo, 1996. "Nonconvexities in Optimal Pollution Accumulation," Journal of Environmental Economics and Management, Elsevier, vol. 31(2), pages 160-177, September.
- Wirl, Franz, 1999. "Complex, dynamic environmental policies," Resource and Energy Economics, Elsevier, vol. 21(1), pages 19-41, January.
- Keeler, Emmett & Spence, Michael & Zeckhauser, Richard, 1972. "The optimal control of pollution," Journal of Economic Theory, Elsevier, vol. 4(1), pages 19-34, February.
- Ralph Winkler, 2008. "Optimal control of pollutants with delayed stock accumulation," CER-ETH Economics working paper series 08/91, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Winkler, Ralph, 2011. "A Note On The Optimal Control Of Stocks Accumulating With A Delay," Macroeconomic Dynamics, Cambridge University Press, vol. 15(04), pages 565-578, September.
When requesting a correction, please mention this item's handle: RePEc:grt:wpegrt:2013-03. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Emmanuel Petit)
If references are entirely missing, you can add them using this form.