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Actions on Environment under uncertainty: stochastic formulation and the associated deterministic problem

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Díaz Díaz, Jesús Ildefonso and Faghloumi, Ch. (2008) Actions on Environment under uncertainty: stochastic formulation and the associated deterministic problem. Revista de la Real Academia de Ciencias Exactas Físicas y Naturales Serie A: Matemáticas, 102 (2). pp. 335-353. ISSN 1578-7303

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Abstract

An application of the results of this paper proves that there is not always an economic benefit when destroying the environment for planting an alternative industrial project. Our criterion, to act, to delay or to deny the industrial investment over the environment, is given in terms of the free boundary associated to a deterministic degenerate obstacle problem (on in unbounded domain) associated to the stochastic optimal control problem formulated, initially, in terms of some suitable stochastic diffusion processes. The localizing estimates on the free boundary are obtained through a suitable spatial change of variables and by working with a suitable distance associated to the coefficient of the elliptic operator.


Item Type:Article
Uncontrolled Keywords:degenerate obstacle problem; Unbounded domain; stochastic optimal control problem; environmental economy
Subjects:Sciences > Mathematics > Applied statistics
Sciences > Mathematics > Stochastic processes
ID Code:15247
Deposited On:17 May 2012 07:53
Last Modified:12 Dec 2018 15:07

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