This study uses optimal control theory to examine the dynamic features of agricultural landscapes characterized by spatial externalites. A stylized system of agricultural production and groundwater flow is used to illustrate how spatial externalities affect land use decisions over time. Policy alternatives are also considered.Environmental Economics and Policy,

Homans, Frances R.

Marshall, Elizabeth P.

English

Research Papers in Economics

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USING OPTIMAL CONTROL TO CHARACTERIZE THE ECONOMIC AND ECOLOGICAL IMPLICATIONS OF SPATIAL EXTERNALITIES

USING OPTIMAL CONTROL TO CHARACTERIZE THE ECONOMIC AND ECOLOGICAL IMPLICATIONS OF SPATIAL EXTERNALITIES

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Research Papers in Economics