全球智库信息集成服务系统(G2TT): Optimal Exploitation of Renewable Resources: Lessons in Sustainability from an Optimal Growth Model of Natural Resource Consumption.

G2TT

来源类型	Book Section
DOI	10.1007/978-3-319-75169-6_11
	Optimal Exploitation of Renewable Resources: Lessons in Sustainability from an Optimal Growth Model of Natural Resource Consumption.
	Aseev S; Manzoor T; Feichtinger, G.; Kovacevic, R.; Tragler, G.
发表日期	2018
出处	Control Systems and Mathematical Methods in Economics. Eds. Feichtinger, G. , Kovacevic, R. & Tragler, G. , pp. 221-245 Cham, Switzerland: Springer. ISBN 978-3-319-75169-6 DOI: 10.1007/978-3-319-75169-6_11 .
出版年	2018
语种	英语
摘要	We study an optimal growth model for a single resource based economy. The resource is governed by the standard model of logistic growth, and is related to the output of the economy through a Cobb-Douglas type production function with exogenously driven knowledge stock. The model is formulated as an infinite-horizon optimal control problem with unbounded set of control constraints and non-concave Hamiltonian. We transform the original problem to an equivalent one with simplified dynamics and prove the existence of an optimal admissible control. Then we characterize the optimal paths for all possible parameter values and initial states by applying the appropriate version of the Pontryagin maximum principle. Our main finding is that only two qualitatively different types of behavior of sustainable optimal paths are possible depending on whether the resource growth rate is higher than the social discount rate or not. An analysis of these behaviors yields general criterions for sustainable and strongly sustainable optimal growth (w.r.t. the corresponding notions of sustainability defined herein).
主题	Advanced Systems Analysis (ASA) ; Young Scientists Summer Program (YSSP)
URL	http://pure.iiasa.ac.at/id/eprint/15348/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/134639
推荐引用方式 GB/T 7714	Aseev S,Manzoor T,Feichtinger, G.,et al. Optimal Exploitation of Renewable Resources: Lessons in Sustainability from an Optimal Growth Model of Natural Resource Consumption.. 2018.