Bayesian learning, growth, and pollution

Article Abstract:

The problem of learning and its relationship with climate change policy were investigated using a simple Bayesian statistical model of temperature change. An optimal growth model with stochasticity and endogenous learning integrated in the model was solved for this purpose. It was found that the expected learning time with regard to climate change ranges between 90 and 160 years, which is far longer than is previously thought. It was also demonstrated how decisions regarding the optimal control of greenhouse gases are suboptimal while learning is occurring relative to perfect information.

Econometrics & Model Building, Models, Usage, Econometrics, Bayesian statistical decision theory, Bayesian analysis, Economic development, Learning, Climatic changes, Climate change, Business models, Teaching models

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Optimal accumulation of pollution: existence of limit cycles for the social optimum and the competitive equilibrium

Article Abstract:

Reductions in pollution at slow and instantaneous rates are investigated. Rational expectations for companies are assumed, and a competitive equilibrium and social optimum are developed.

Research, Control, Equilibrium (Economics)

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The dynamics of spatial pollution: the case of phosphorous runoff from agricultural land

Article Abstract:

Optimal management of negative externalities arising from production is examined using an example from agricultural pollution.

Economics, Research and Development in the Social Sciences and Humanities, Agriculture, Economic aspects, Environmental aspects

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