Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5098910 | Journal of Economic Dynamics and Control | 2010 | 14 Pages |
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
Authors
Robert D. Cairns, Huilan Tian,