Hierarchical and Asymptotic Optimal Control Models for Economic Sustainable Development

Abstract

In this brief paper one shows the relevance of asymptotic control theory to the study of economic sustainable development. One also proposes a modeling framework where sustainable economic development is represented through a paradigm of optimal stochastic control with two time-scales. This shows that several contributions of rof. Sethi, in the domain of hierarchical and multi-level control models in manufacturing and resource management can also serve to better understand the stakes of sustainability in economic growth and to assess long term environmental policies.