Achieving Desired Performance through Constraint: Application to Pollution-Production Cycles

Christopher Pawlowski ()
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Christopher Pawlowski: University of California, Berkeley

No 321, Computing in Economics and Finance 1999 from Society for Computational Economics

Abstract: We examine a simple, abstract representation of a semi-closed system comprising agents and buffers. The agents are looked upon as processors moving mass (raw materials and products) between buffers (e.g. the atmosphere). The fundamental management challenge is to maintain the level of material (e.g. pollutants) in system buffers within specified constraints. These constraints capture global performance goals such as sustainability, clean air/water, ecosystem health, etc. A hierarchical approach to system regulation is taken. Rather than specifying agent behavior, a central planner specifies constraints on agent activity. This approach allows agents reasonable freedom in their individual operation while guaranteeing desired global performance.

Date: 1999-03-01
New Economics Papers: this item is included in nep-ene, nep-env and nep-law
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More papers in Computing in Economics and Finance 1999 from Society for Computational Economics CEF99, Boston College, Department of Economics, Chestnut Hill MA 02467 USA. Contact information at EDIRC.
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