全球智库信息集成服务系统(G2TT): Optimal Growth, Renewable Resources and Sustainability.

G2TT

来源类型	Monograph (IIASA Working Paper)
规范类型	论文
	Optimal Growth, Renewable Resources and Sustainability.
	Aseev S; Manzoor T
发表日期	2016
出版者	IIASA, Laxenburg, Austria: WP-16-017
出版年	2016
语种	英语
摘要	We study a growth model for a single resource-based economy, as an inﬁnite-horizon op-timal control problem. The resource is assumed to be governed by the standard model of logistic growth, and is related to the output of the economy through a Cobb-Douglass type production function with an exogenously driven knowledge stock. The problem involves unbounded controls and the non-concave Hamiltonian. These preclude direct application of the standard existence results and Arrow’s suﬃcient conditions for optimality. We transform the original optimal control problem to an equivalent one with simpliﬁed dy-namics and prove the existence of an optimal admissible control. Then we characterize the optimal paths for all possible parameter values and initial states by applying the ap-propriate version of the Pontryagin maximum principle. Our main ﬁnding is that only two qualitatively diﬀerent types of behavior of sustainable optimal paths are possible de-pending on whether the resource growth rate is higher than the social discount rate or not.
主题	Advanced Systems Analysis (ASA) ; Young Scientists Summer Program (YSSP)
关键词	optimal growth, sustainability, renewable resources
URL	http://pure.iiasa.ac.at/id/eprint/14028/
来源智库	International Institute for Applied Systems Analysis (Austria)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/126054
推荐引用方式 GB/T 7714	Aseev S,Manzoor T. Optimal Growth, Renewable Resources and Sustainability.. 2016.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
WP-16-017.pdf（1025KB）	智库出版物		限制开放	CC BY-NC-SA	浏览