Resource Economics

Dynamical Methods Applied in Natural Resource Economics, Journal of Economics and Political Economy

This paper presents, in brief, the fundamentals of optimal control theory together with some notes for differential games, which is the game theoretic analogue of the optimal control. As it is recommended by literature references the main tool of analysis in open loop information structure for environmental models is the Pontryagin’s Maximum Principle, while the Hamilton–Jacobi–Bellman equation is the tool of analysis for any closed loop informational structure.