The stochastic lake game: A numerical solution
From MaRDI portal
Publication:959636
DOI10.1016/j.jedc.2005.10.010zbMath1162.91314MaRDI QIDQ959636
S. I. O'Donnell, W. Davis Dechert
Publication date: 12 December 2008
Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1016/j.jedc.2005.10.010
stochastic optimal control; Markov processes; stochastic dynamic programming; dynamic games with a potential function; lake water pollution
93E20: Optimal stochastic control
91A15: Stochastic games, stochastic differential games
91B76: Environmental economics (natural resource models, harvesting, pollution, etc.)
Related Items
An inverse optimal problem in discrete-time stochastic control, Dynamic potential games: the discrete-time stochastic case, On the optimal taxation of common-pool resources, Feedback Nash equilibria for non-linear differential games in pollution control, Small-noise asymptotics of Hamilton-Jacobi-Bellman equations and bifurcations of stochastic optimal control problems, The rise and fall of catastrophe theory applications in economics: was the baby thrown out with the bathwater?, Numerical analysis of Markov-perfect equilibria with multiple stable steady states: a duopoly application with innovative firms, Avoiding an ecological regime shift is sound economic policy, A survey of static and dynamic potential games, Shallow lake economics run deep: nonlinear aspects of an economic-ecological interest conflict, Unnamed Item, Bayes' learning of unknown parameters
Cites Work
- Unnamed Item
- A complete characterization of optimal growth paths in an aggregated model with a non-concave production function
- Skiba points and heteroclinic bifurcations, with applications to the shallow lake system
- Optimal control problems from second-order difference equations
- Uncertain climate thresholds and optimal economic growth
- Optimal Growth with a Convex-Concave Production Function
- Using Randomization to Break the Curse of Dimensionality