A review of mathematical models in economic environmental problems

A review of mathematical models in economic environmental problems

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Article ID: iaor20012384
Country: Netherlands
Volume: 97
Issue: 1
Start Page Number: 165
End Page Number: 201
Publication Date: Dec 2000
Journal: Annals of Operations Research
Authors: ,
Keywords: economics
Abstract:

The paper presents a review of mathematical models used in economic analysis of environmental problems. This area of research combines macroeconomic models of growth, as dependent on capital, labour, resources, etc., with environmental models describing such phenomena as natural resources exhaustion or pollution accumulation and degradation. In simpler cases the models can be treated analytically and the utility function can be optimized using, e.g., such tools as the maximum principle. In more complicated cases calculation of the optimal environmental policies requires a computer solution.

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