Geometrical methods for analyzing the optimal management of tipping point dynamics
| Authors | |
|---|---|
| Publication date | 08-2020 |
| Journal | Natural Resource Modeling |
| Article number | e12258 |
| Volume | Issue number | 33 | 3 |
| Number of pages | 31 |
| Organisations |
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| Abstract | Natural resources are not infinitely resilient and should not be modeled as being such. Finitely resilient resources feature tipping points and history dependence. This paper provides a didactical discussion of mathematical methods that are needed to understand the optimal management of such resources: viscosity solutions of Hamilton–Jacobi–Bellman equations, the costate equation and the associated canonical equa- tions, exact root counting, and geometrical methods to analyze the geometry of the invariant manifolds of the canonical equations. |
| Document type | Article |
| Language | English |
| Published at |
https://doi.org/10.1111/nrm.12258
(Final published version)
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| Downloads |
Wagener-2020-Natural_Resource_Modeling
(Final published version)
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