The stochastic lake game: A numerical solution

DOI10.1016/J.JEDC.2005.10.010MaRDI QIDQ959636zbMATH OpenOpenAlexFDO

Authors S. I. O'Donnell, W. Davis Dechert

Publication date 12 December 2008

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.2005.10.010

zbMATH Keywords

Markov processesstochastic optimal controlstochastic dynamic programmingdynamic games with a potential functionlake water pollution

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Stochastic games, stochastic differential games (91A15) Optimal stochastic control (93E20)

Recommendations

• The deterministic and stochastic shallow lake problem
• A discrete-time dynamic game of seasonal water allocation
• Static and dynamic equilibria in stochastic games with continuum of players
• STOCHASTIC MODEL OF LAKE SYSTEM INVASION AND ITS OPTIMAL CONTROL: NEURODYNAMIC PROGRAMMING AS A SOLUTION METHOD
• Small-noise asymptotics of Hamilton-Jacobi-Bellman equations and bifurcations of stochastic optimal control problems

Cites work

• A complete characterization of optimal growth paths in an aggregated model with a non-concave production function
• Dynamic programming and optimal control. Vol. 2.
• Optimal Growth with a Convex-Concave Production Function
• Optimal control problems from second-order difference equations
• Skiba points and heteroclinic bifurcations, with applications to the shallow lake system
• Uncertain climate thresholds and optimal economic growth
• Using Randomization to Break the Curse of Dimensionality

Cited in

(15)

• scientific article; zbMATH DE number 7232792 (Why is no real title available?)
• An inverse optimal problem in discrete-time stochastic control
• Numerical analysis of Markov-perfect equilibria with multiple stable steady states: a duopoly application with innovative firms
• The deterministic and stochastic shallow lake problem
• Bayes' learning of unknown parameters
• On the optimal taxation of common-pool resources
• 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?
• Avoiding an ecological regime shift is sound economic policy
• STOCHASTIC MODEL OF LAKE SYSTEM INVASION AND ITS OPTIMAL CONTROL: NEURODYNAMIC PROGRAMMING AS A SOLUTION METHOD
• A discrete-time dynamic game of seasonal water allocation
• Feedback Nash equilibria for non-linear differential games in pollution control
• Dynamic potential games: the discrete-time stochastic case
• Shallow lake economics run deep: nonlinear aspects of an economic-ecological interest conflict
• A survey of static and dynamic potential games

This page was built for publication: The stochastic lake game: A numerical solution

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q959636)