Modeling of Environmental Adaptation versus Pollution Mitigation

Bréchet, Thierry;Yatsenko, Yuri;Hritonenko, Natali;et.al.
(2014) Mathematical Modelling of Natural Phenomena — Vol. 9, n° 4, p. 227-237 (2014)

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Authors
  • Bréchet, ThierryUCLouvain
    Author
  • Yatsenko, YuriHouston Baptist Universit
    Author
  • Hritonenko, NataliPrairie View A&M University
    Author
  • et. al.
Abstract
The paper combines analytic and numeric tools to investigate a nonlinear optimal control problem relevant to the economics of climate change. The problem describes optimal investments into pollution mitigation and environmental adaptation at a macroeconomic level. The steady-state analysis of this problem focuses on the optimal ratio between adaptation and mitigation. In particular, we analytically prove that the long-term investments into adaptation are profitable only for economies above certain efficiency threshold. Numerical simulation is provided to estimate how the economic efficiency and capital deterioration affect the optimal policy.
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Bréchet, T., Yatsenko, Y., Hritonenko, N., & et al. (2014). Modeling of Environmental Adaptation versus Pollution Mitigation. Mathematical Modelling of Natural Phenomena, 9(4), 227-237. https://hdl.handle.net/2078.5/200142 (Original work published 2014)