Singular optimal control model of stock dependent environmental policies

Katrin Erdlenbruch and Mabel Tidball ()

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Abstract: In many countries, forest policies consist of a system of various regulations, taxes and subsidies. In this article, we focus on those policies that regulate selective harvesting and study the example of Central Africa. We use a deterministic singular optimal control model of renewable resources to assess these policies with respect to a first best situation which integrates a social surplus or externality function. In particular, in contrast to earlier articles, we analyze a stock dependent tax, for which the objective function is piecewise differentiable. We use a theorem proposed by Hartl and Feichtinger to solve the mathematical problem. We show that this tax is the most flexible instrument with respect to fund collection.

Keywords: stock dependency; renewable resource economics; environmental taxation; Singular optimal control; CONTROLE; STOCK; ECONOMIE; MODELE; RESSOURCE RENOUVELABLE; POLITIQUE DE L'ENVIRONNEMENT (search for similar items in EconPapers)
Date: 2006
Note: View the original document on HAL open archive server: https://hal.science/hal-00451685v1
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Published in Journal of Optimization Theory and Applications, 2006, 131 (1), p. 69 - p. 88. ⟨10.1007/s10957-006-9130-8⟩

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Journal Article: Singular Optimal Control Model of Stock-Dependent Environmental Policies (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00451685

DOI: 10.1007/s10957-006-9130-8

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