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policy, but then delaying its implementation, is associated with a larger cumulative extraction at any point in time than …
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The paper develops a version of Pontryagin's maximum principle for optimal control problems with monotonicity constraints on control variables. Whereas the literature handles such constraints by imposing an assumption of piecewise smoothness on the control variable and treating the slope of this...
Persistent link: https://www.econbiz.de/10010264833
Optimal control of dynamic econometric models has a wide variety of applications including economic policy relevant issues. There are several algorithms extending the basic case of a linear-quadratic optimization and taking nonlinearity and stochastics into account, but being still limited in a...
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equation is autonomous. The integrand in the integral criterion may contain the time explicitly, but it has to satisfy certain …
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Green industrial policy is normally conceived as measures to foster the development of new green sectors. This chapter explores the ways in which such sectors can be fostered by disrupting existing polluting sectors. It explores several case studies of this dynamic in action, including fossil...
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. Studies which use technological innovation systems and multi-level-perspective approaches show that the development of … innovation systems is a complex process, with many direct and indirect interdependencies of the different variables. The paper … case study. In order to develop a perspective how to build the model in technical terms, the dynamics of the innovation …
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