The stochastic lake game: A numerical solution

DOI10.1016/J.JEDC.2005.10.010zbMATH Open1162.91314OpenAlexW2148808857MaRDI QIDQ959636FDOQ959636

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

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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)

Cites Work

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

Cited In (14)

• Shallow lake economics run deep: nonlinear aspects of an economic-ecological interest conflict
• On the optimal taxation of common-pool resources
• STOCHASTIC MODEL OF LAKE SYSTEM INVASION AND ITS OPTIMAL CONTROL: NEURODYNAMIC PROGRAMMING AS A SOLUTION METHOD
• An inverse optimal problem in discrete-time stochastic control
• The rise and fall of catastrophe theory applications in economics: was the baby thrown out with the bathwater?
• Title not available (Why is that?)
• A survey of static and dynamic potential games
• Dynamic potential games: the discrete-time stochastic case
• Small-noise asymptotics of Hamilton-Jacobi-Bellman equations and bifurcations of stochastic optimal control problems
• A discrete-time dynamic game of seasonal water allocation
• Feedback Nash equilibria for non-linear differential games in pollution control
• Numerical analysis of Markov-perfect equilibria with multiple stable steady states: a duopoly application with innovative firms
• Bayes' learning of unknown parameters
• Avoiding an ecological regime shift is sound economic policy

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