Optimal control theory with applications to resource and environmental economics

Michael Hoel

This note gives a brief, non-rigorous sketch of basic optimal control theory, which is a useful tool in several simple economic problems,such as those in resource and environmental economics. While the mathematical analysis in the note is self-contained, there is not much explanation and intuition on the economic issues. The note should therefore be read together with articles or books that give more discussion of the economics of the problems considered.

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Year of publication:	2016
Authors:	Hoel, Michael
Publisher:	Oslo, Norway : Department of Economics, University of Oslo
Subject:	optimal control theory \| exhaustible resources \| renewable resources \| climate change \| water management \| Ressourcenökonomik \| Resource economics \| Erneuerbare Ressourcen \| Renewable resources \| Kontrolltheorie \| Control theory \| Klimawandel \| Climate change \| Umweltökonomik \| Environmental economics \| Erschöpfbare Ressourcen \| Exhaustible resources \| Wasserversorgung \| Water supply \| Mathematische Optimierung \| Mathematical programming \| Kybernetik \| Cybernetics