Renewable resource management with stochastic recharge and environmental threats

DOI10.1016/J.JEDC.2011.06.013zbMATH Open1237.91175OpenAlexW2106073118MaRDI QIDQ419490FDOQ419490

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

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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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• Dynamic optimisation in the presence of threshold effects when the location of the threshold is uncertain -- with an application to a possible disintegration of the Western Antarctic Ice Sheet

Cited In (4)

• Dynamic efficiency of conservation of renewable resources under uncertainty.
• THE COSTATE VARIABLE IN A STOCHASTIC RENEWABLE RESOURCE MODEL
• Optimal exploitation of renewable resources under uncertainty and the extinction of species
• The optimal management of renewable resources under the risk of potential regime shift

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