Long-run average welfare in a pollution accumulation model

DOI10.1016/J.JEDC.2006.04.001zbMath1162.91340OpenAlexW2001226512MaRDI QIDQ959758

Kazuhito Kawaguchi, Hiroaki Morimoto

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.2006.04.001

zbMATH Keywords

Hamilton-Jacobi-Bellman equationviscosity solutionpollution accumulationlong-run average

Mathematics Subject Classification ID

Optimal stochastic control (93E20) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Stochastic systems in control theory (general) (93E03) Numerical solutions to stochastic differential and integral equations (65C30) Social choice (91B14)

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Cites Work

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• Optimality of irreversible pollution accumulation
• What do discounted optima converge to!: A theory of discount rate asymptotics in economic models
• User’s guide to viscosity solutions of second order partial differential equations
• Some Results on the Bellman Equation of Ergodic Control
• Optimal control and viscosity solutions of Hamilton-Jacobi-Bellman equations

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