Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1703424 | Applied Mathematical Modelling | 2015 | 13 Pages |
Abstract
The suggested model describes the optimal management of a manufacturing system (a firm, region, or industry) that consumes a scarce natural resource and replaces obsolete productive assets with new resource-efficient ones. The model includes resource-saving embodied technological change, a varying resource price, and environmental quotas on resource consumption. Mathematically, it leads to the infinite-horizon optimal control of nonlinear integral equations with unknown integration limits. A steady-state analysis of the model addresses environmentally sustainable manufacturing and provides important implications for both firm and government decision-making.
Related Topics
Physical Sciences and Engineering
Engineering
Computational Mechanics
Authors
Natali Hritonenko, Yuri Yatsenko, Seilkhan Boranbayev,