Environmental management: analytical approximate solutions to the problem of detecting optimal random audit schemes

In the contest of environmental management, the problem of minimizing the expected cost due to random checking processes and a possible failure is here addressed. Non-homogeneous Poisson checking processes with continuous non-decreasing intensity are considered, leading to the explicit detection of the sub-optimal solution for exponential or uniform failure density functions. The dynamic of the optimal solution is then analized using the phase-diagram tool.

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Year of publication:	2004-11-29
Authors:	Ferretti, Paola
Institutions:	EconWPA
Subject:	Environmental management \| audit scheme \| random inspections \| non-homogeneous Poisson checking process \| optimal control \| exponential failure density function \| uniform failure density function

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Extent:	application/pdf
Series:	Game Theory and Information.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; pages: 13 13 pages
Classification:	Q2 - Renewable Resources and Conservation; Environmental Management
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005118638