World dynamics: An optimization study of the pollution subsystem |
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| Authors: | L Mariani B Nicoletti |
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| Institution: | 1. Istituto di Elettrotecnica e di Elettronica, Università di Padova, Padova, Italy
2. Istituto Elettrotecnico, Università di Napoli, Napoli, Italy
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| Abstract: | In a simplified version of the pollution subsystem of Forrester's world dynamics model, it is proposed to choose the capital investment policy for maximizing the integral of the quality of life. The optimization is carried out by using Green's theorem and the maximum principle. The optimal control is characterized by a combination of bang-bang and singular control, with the singular are forming a turnpike, corresponding to a global equilibrium policy. |
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