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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...
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We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in …. -- environmental pollution ; optimal management ; catastrophic transitions ; uncertainty ; adaptation ; mitigation …
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