Article ID Journal Published Year Pages File Type
5098910 Journal of Economic Dynamics and Control 2010 14 Pages PDF
Abstract
A maximin program is applied to a policy of sustaining a simple society whose population is dependent on a resource subject to logistic growth. Regular and non-regular paths are characterized. There are continua of both regular and non-regular solutions, the type depending on the initial conditions. A non-regular path involves an intermediate part in which the sustainment constraint is not effective. All solutions are time consistent and Pareto optimal. Because a problem may not be regular, it is not valid to assume that sustainment implies constant utility.
Related Topics
Physical Sciences and Engineering Mathematics Control and Optimization
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