Optimal Control for Sustainable Consumption of Natural Resources

Optimal Control for Sustainable Consumption of Natural Resources

In this paper we study optimal policies for a central planner interested in maximizing utility in an economy driven by a renewable resource. It is shown that the optimal consumption path is sustainable only when the intrinsic growth rate of the resource is greater than the social discount rate. The model is formulated as an infinite horizon optimal control problem. We deal with the mathematical...

On Harnessing Natural Resources for Sustainable Development

Is the Present Pace of Economic Development Sustainable? The mainstream economics has characteristically been myopic in visualizing the relationship between human beings and the ecosphere, the surrounding in which they live, work and prosper. Man thought that everything, whether animate or inanimate, exists for him and he exists only for himself. Nature is bountiful to him; moreover, nature is ...

Relevance of Hyperspectral Data for Sustainable Management of Natural Resources

Land cover mapping relates to identifying the types of features present on the surface of the earth. It deals with discerning the extent of land cover features namely vegetation, geologic, urban infrastructure, water, bare soil or others. Variations in land cover and associated physical characteristics do influence weather and climate of our earth and hence, it is considered an essential elemen...

Natural Resources, Development Models and Sustainable Development

This paper starts out from the optimistic assumption that the basic policies for environmental economic development are known but uncertainties surround the speed of their adoption. In many developing countries the key obstacle is poor governance: consequently, renewable resources continue to be mined, non-renewable resources are depleted irresponsibly, and reductions in pollution intensity lag...

Conservation of natural resources for sustainable Agriculture Introduction