OPTIMAL MANAGEMENT OF DYNAMIC SYSTEMS OF THE ECONOMY AND THE ENVIRONMENT

Abstract: 

The management of unified economic-environmental systems has attracted considerable attention from both researchers and policy makers. Climate change, the management of biodiversity, fisheries, and exhaustible resources are notable examples of the issues involved. The approach to this problem which uses dynamical systems as the main analytical tool is of special interest to economics, ecology and applied mathematics.

The purpose of the proposed research program is to develop dynamical optimal management models for the economy and the environment.

The models to be developed will incorporate issues which are on the frontier of current research, such as

  • non-linearities and feedbacks in dynamical systems with strategic interactions;
  • the implication of different time scales in the study and management of dynamical systems;
  • the implications of ambiguity and "˜deep uncertainty" in the development of policy rules;
  • the introduction of the spatial dimension in dynamic models to study spatiotemporal evolutions and
  • the emergence of endogenous clustering and economic agglomerations.

Particular issues to be studied include

  • the impact of strategic behavior and oligopolistic markets on the management of natural resources and international environmental agreements in the context of nonlinear differential games;
  • the emergence of poverty and/or environmental traps;
  • management and policy design under ambiguity in different time scales;
  • optimal control of infinite dimensional economic systems;
  • the importance of long-range spatial spillovers and local diffusion in the endogenous formation of spatial patterns and agglomerations in spatiotemporal models;
  • the design of space dependent policies.

Common links and potential unifications among the models developed for the issues described above will be explored. This unification will produce new results and open new areas for further research.

Project info

Acronym:
OMADECEN
Scientific Coordinator:
Xepapadeas Anastasios
Research Team 2 Leader:
Yannacopoulos Athanasios
Research Team 3 Leader:
Kossioris Georgios
Research Team 4 Leader:
Sartzetakis Eftichios

Stats

I.D.:
707
Mis:
375586
Duration (months):
36
Budget:
600 000.00
Diavgeia:
ΑΔΑ: Β49Ι9-ΗΗΠ

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