{"title":"The control of environmental pollution and optimal investment and employment decisions","authors":"Winston T. Lin","doi":"10.1002/OCA.4660080103","DOIUrl":null,"url":null,"abstract":"This paper develops an optimal control model for the firm's decision-making concerning pollution control spending, employment and investment. The model explicitly considers the impact of adjustment costs of changing the level of the pollution stock and involves three state variables and two control variables. Necessary conditions are derived by the maximum principle. The results include an optimal employment-investment-pollution abatement programme, an optimal pollution control decision rule, the equilibrium optimal pollution control and spending plan, and the equilibrium employment-investment decision.","PeriodicalId":54672,"journal":{"name":"Optimal Control Applications & Methods","volume":"248 1","pages":"21-36"},"PeriodicalIF":2.0000,"publicationDate":"2007-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1002/OCA.4660080103","citationCount":"8","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Optimal Control Applications & Methods","FirstCategoryId":"94","ListUrlMain":"https://doi.org/10.1002/OCA.4660080103","RegionNum":4,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"AUTOMATION & CONTROL SYSTEMS","Score":null,"Total":0}
引用次数: 8
Abstract
This paper develops an optimal control model for the firm's decision-making concerning pollution control spending, employment and investment. The model explicitly considers the impact of adjustment costs of changing the level of the pollution stock and involves three state variables and two control variables. Necessary conditions are derived by the maximum principle. The results include an optimal employment-investment-pollution abatement programme, an optimal pollution control decision rule, the equilibrium optimal pollution control and spending plan, and the equilibrium employment-investment decision.
期刊介绍:
Optimal Control Applications & Methods provides a forum for papers on the full range of optimal and optimization based control theory and related control design methods. The aim is to encourage new developments in control theory and design methodologies that will lead to real advances in control applications. Papers are also encouraged on the development, comparison and testing of computational algorithms for solving optimal control and optimization problems. The scope also includes papers on optimal estimation and filtering methods which have control related applications. Finally, it will provide a focus for interesting optimal control design studies and report real applications experience covering problems in implementation and robustness.