OPTIMAL REGULATION OF EUTROPHYING LAKES, FJORDS AND RIVERS IN THE PRESENCE OF THRESHOLD EFFECTS
No 21619, 1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
In a large number of practical environmental regulation problems, the damage done by pollutants depends on stocks and/or flows of pollutants exceeding certain thresholds. A typical example is eutrophication which occur when stocks of nutrients in a lake exceeds a certain threshold. The present paper presents a model of eutrophication that accounts for such thresholds. The paper does so by applying a novel technique in optimal control theory that allows for the analysis of systems where state-variables bounce back and forth over thresholds that take the form of functions of time and state-variables.
Keywords: Environmental Economics and Policy; Resource /Energy Economics and Policy (search for similar items in EconPapers)
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Journal Article: Optimal Regulation of Eutrophying Lakes, Fjords, and Rivers in the Presence of Threshold Effects (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea99:21619
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