Optimal control of pollutants with delayed stock accumulation

Ralph Winkler

We study the optimal control of a pollutant that accumulates with a delay.We find that optimal paths are, in general, non-monotonic and oscillatory, but monotonic if the objective function is additively separable. Hence, using additively separable objective functions as an approximation to a general objective function may be a misspecification. With a numerical example we illustrate that an additively separable approximation performs considerably worse in delayed compared to instantaneous stock accumulation.

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Year of publication:	[2008]
Authors:	Winkler, Ralph
Publisher:	Zurich : CER-ETH - Center of Economic Research at ETH Zurich
Subject:	additively separable objective \| approximated objective \| delayed optimal control \| optimal pollution control \| Umweltbelastung \| Pollution \| Umweltschutz \| Environmental protection \| Mathematische Optimierung \| Mathematical programming \| Kontrolltheorie \| Control theory \| Umweltökonomik \| Environmental economics \| Theorie \| Theory

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Extent:	1 Online-Ressource (circa 25 Seiten) Illustrationen
Series:	Working papers of the Center of Economic Research at ETH Zurich. - Zürich : Inst., ZDB-ID 2099103-4. - Vol. 08, 91 (July 2008)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.3929/ethz-a-005666533 [DOI] hdl:10419/171534 [Handle]
Classification:	Q50 - Environmental Economics. General ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003762155