Optimal control theory with applications to resource and environmental economics

Michael Hoel ()
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Michael Hoel: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway, http://www.sv.uio.no/econ/english/

No 08/2016, Memorandum from Oslo University, Department of Economics

Abstract: This note gives a brief, non-rigorous sketch of basic optimal control theory, which is a useful tool in several simple economic problems,such as those in resource and environmental economics. While the mathematical analysis in the note is self-contained, there is not much explanation and intuition on the economic issues. The note should therefore be read together with articles or books that give more discussion of the economics of the problems considered.

Keywords: optimal control theory; exhaustible Resources; renewable Resources; climate change; water management (search for similar items in EconPapers)
JEL-codes: C61 Q20 Q30 Q50 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2016-08-23
New Economics Papers: this item is included in nep-ene, nep-env, nep-hpe and nep-ore
References: View references in EconPapers View complete reference list from CitEc
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:osloec:2016_008

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