Renewable resource management with stochastic recharge and environmental threats

DOI10.1016/J.JEDC.2011.06.013MaRDI QIDQ419490zbMATHOpenAlexFDO

Authors Arie Leizarowitz, Yacov Tsur

Publication date 18 May 2012

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2011.06.013

zbMATH Keywords

Markov decision processoptimal stationary policycatastrophic eventendogenous discountingstochastic stock dynamics

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Markov and semi-Markov decision processes (90C40)

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Cited in

(5)

• Optimal exploitation of renewable resources under uncertainty and the extinction of species
• Greed is good: Heuristic adaptations for resilience in renewable resource management
• Dynamic efficiency of conservation of renewable resources under uncertainty.
• THE COSTATE VARIABLE IN A STOCHASTIC RENEWABLE RESOURCE MODEL
• The optimal management of renewable resources under the risk of potential regime shift

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