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3287. Optimal Sustainable Investments in a Multi-Objective Dynamic Model of the Firm
Invited abstract in session TB-33: Optimal control in environmental economics, stream Optimal Control Theory and Applications.
Tuesday, 10:30-12:00Room: 42 (building: 303A)
Authors (first author is the speaker)
| 1. | Andrea Seidl
|
| WU Vienna | |
| 2. | Richard Hartl
|
| Business Decisions & Analytics, University of Vienna | |
| 3. | Peter Kort
|
| Tilburg University |
Abstract
Reducing pollution is something desireable for a firm, however, sometimes this is only achieveable by means of reducing production which in turn has a negative impact on revenues. In the present talk, we consider a simple two-objective optimal control problem. We discuss the advantage of using the epsilon-constraint method to determine the Pareto front as opposed to the conventional weighted-sum approach. We are able to derive analytic results for our optimal control problem and discuss their implications.
Keywords
- Optimal Control
Status: accepted
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