USING OPTIMAL CONTROL TO CHARACTERIZE THE ECONOMIC AND ECOLOGICAL IMPLICATIONS OF SPATIAL EXTERNALITIES

Elizabeth Marshall () and Frances Homans

No 20654, 2001 Annual meeting, August 5-8, Chicago, IL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This study uses optimal control theory to examine the dynamic features of agricultural landscapes characterized by spatial externalites. A stylized system of agricultural production and groundwater flow is used to illustrate how spatial externalities affect land use decisions over time. Policy alternatives are also considered.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 26
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea01:20654

DOI: 10.22004/ag.econ.20654

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