Full cooperation applied to environmental improvements

• Autorzy: Monique Jeanblanc , Rafał M. Łochowski , Wojciech Szatzschneider
• Języki publikacji: EN

Abstrakty

EN

We analyse the case of certificates of environmental improvements and full cooperation of two identical agents. We model pollution levels as geometric Brownian motions with quadratic costs of improvements. Our main result is the construction of the optimal improvements strategy in the case of separate actions, collusive actions and fusion. In certain range of the model parameters, the fusion solution generates lower pollution levels than separate and collusive actions.

Kategorie tematyczne

• 60H10: Stochastic ordinary differential equations
• 93E20: Optimal stochastic control

• Wydawca: Institute of Mathematics Polish Academy of Sciences
• Czasopismo: Banach Center Publications
• Rocznik: 2015
• Tom: 104
• Numer: 1
• Strony: 121-131

Daty

wydano

2015

Twórcy

autor

Monique Jeanblanc

• LaMME, Université d'Evry Val d'Essonne, boulevard de France, F-91037 Evry Cedex, France

autor

Rafał M. Łochowski

• Department of Mathematics and Mathematical Economics, Warsaw School of Economics, ul. Madalińskiego 6/8, 02-513 Warszawa, Poland
• Prince Mohammad Bin Fahd University, P.O. Box 1664, Al Khobar 31952, Saudi Arabia

autor

Wojciech Szatzschneider

• School of Actuarial Sciences, Universidad Anahuac Mexico Norte, Mexico

Identyfikatory

DOI

10.4064/bc104-0-6