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Erschienen in:
Optimal Regional Regulation of Animal Waste Kapitel lesen Erstes Kapitel lesen

2018 | OriginalPaper | Buchkapitel

Myopia of Governments and Optimality of Irreversible Pollution Accumulation

verfasst von : Laura Policardo

Erschienen in: Modeling, Dynamics, Optimization and Bioeconomics III

Verlag: Springer International Publishing

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Abstract

In this paper I address the question of whether irreversible pollution accumulation - in a global pollution problem - may be optimal or not. Based on the Tahvonen and Withagen’s article (Tahvonen, Withagen, J Econ Dyn Control, 20:1775–1795, 1996), [16], I set up a model of economic growth where pollution is a byproduct of production, and its natural decay function follows an inverted-U shape, and becomes irreversible for high levels of pollution. Under some parameter’s constellation, the model produces multiplicity of equilibria making local analysis of little relevance. I therefore study the global dynamics of the system using a dynamic programming algorithm, showing that irreversible pollution accumulation cannot be an optimal strategy, unless it is guided by short-term objectives.

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Vorheriges Kapitel A Stochastic Logistic Growth Model with Predation: An Overview of the Dynamics and Optimal Harvesting
Nächstes Kapitel Stochastic Modelling of Biochemical Networks and Inference of Model Parameters
Fußnoten
1
This is a special assumption since this formulation implies that the enjoyment of consumption does not depend on pollution, and that the disutility of pollution is not affected by the level of consumption.
 
2
Pollution in this model is a public “bad”, so each individual experience its whole amount, while consumption is considered in percapita terms.
 
3
This rearrangement of Eqs. 31–34 is only aimed at expressing the two stationary solutions in the \(k-x\) plane and Eqs. 35 and 36 do not have necessarily an economic interpretation.
 
4
Linfen (China) is the first most polluted city in the world, where the amount of particulate matters in the air is such that it makes the laundry black before it dries, followed by Sukinda (China) where 60% of the drinking water contains hexavalent chromium at levels more than double international standards and Vapi (India), where levels of mercury in the city’s groundwater are reportedly 96 times higher than WHO safety levels, and heavy metals are present in the air and the local produce.
 
5
Among the cleanest cities in the world we see Calgary (Canada), Honolulu (Hawaii), Helsinki (Finland), and Ottawa (Canada).
 
6
It is worthwhile here to make some clarifications: let T the number of periods the planner chooses to let pollution reach its own threshold of irreversibility. It might be the case that (i) The planner fixes an arbitrary T and set \(x(T)=\bar{x}\) or (ii)The planner chooses the optimal T such that \(x(T)=\bar{x}\). Both cases are admissible, however, in the second case further optimality conditions are required and are explained in the text.
 
7
Transversality conditions are not required in the first period problem.
 
8
For notational simplicity, in the following I will use interchangeably the generic variable z instead of z(t) whenever this does not constitute ambiguity.
 
9
The minimum consumption level is assumed to be set at very low levels such that the solution never hits it.
 
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Forster, B.: Optimal pollution control with a nonconstant exponential rate of decay. J. Environ. Econ. Manag. 2, 1–6 (1975)CrossRef
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Larson, R.: A survey of dynamic programming computational procedures. In: IEEE Transaction on Automatic Control, pp. 767–774 (1967)CrossRef
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Nordhaus, W.: A review of the Stern review on the economics of climate change. J. Econ. Lit. 45, 686–702 (2007)CrossRef
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Ryder, H.E., Heal, G.M.: Optimal growth with intertemporally dependent preferences. Rev. Econ. Stud. 40(1), 1–31 (1973)CrossRef
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Metadaten
Titel
Myopia of Governments and Optimality of Irreversible Pollution Accumulation
verfasst von
Laura Policardo
Copyright-Jahr
2018
Buch
Modeling, Dynamics, Optimization and Bioeconomics III

Print ISBN: 978-3-319-74085-0

Electronic ISBN: 978-3-319-74086-7

Copyright-Jahr: 2018

DOI
https://doi.org/10.1007/978-3-319-74086-7_17