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Controlling the international stock pollutant with policies depending on target values

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dc.affiliation.dptoUC3M. Departamento de Estadísticaes
dc.contributor.authorCasas, Omar J.
dc.contributor.authorRomera, Rosario
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Estadística
dc.date.accessioned2009-11-19T11:58:28Z
dc.date.available2009-11-19T11:58:28Z
dc.date.issued2009-09
dc.description.abstractIn this paper a stochastic dynamic game formulation of the economics of international environmental agreements on the transnational pollution control, when the environmental damage arises from stock pollutant that accumulates, for accumulating pollutants such as CO2 in the atmosphere is provided. To improve the non-cooperative equilibrium among countries, we propose a different criterion to the minimization of the expected discounted total cost. Moreover, we consider Cooperative versus Noncooperative Stochastic Dynamic Games formulated as Markov Decision Processes (MDP). We propose a new alternative where the decision-maker wants to maximize the probability that some total performance of the dynamical game does not exceed a target value during a fixed period of time. The task requirements are therefore formulated as probabilities rather than expectations. This approach is different from the standard MDP, which uses performance criteria based on the expected value of some index. We present properties of the optimal policies obtained under this new perspective.
dc.format.mimetypeapplication/pdf
dc.identifier.repecws096019
dc.identifier.urihttps://hdl.handle.net/10016/5736
dc.language.isoeng
dc.relation.ispartofseriesUC3M Working papers. Statistics and Econometrics
dc.relation.ispartofseries09-19
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEstadística
dc.subject.otherStochastic optimal control
dc.subject.otherMarkov Decision Processes
dc.subject.otherStochastic Dynamic Programming
dc.subject.otherStochastic Dynamic Games
dc.subject.otherInternational pollutant control
dc.subject.otherEnvironmental economics
dc.subject.otherSustainability
dc.subject.otherProbability criterion
dc.titleControlling the international stock pollutant with policies depending on target values
dc.typeworking paper*
dspace.entity.typePublication
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