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http://hdl.handle.net/10419/43499
  
Title:Robust control and hot spots in dynamic spatially interconnected systems PDF Logo
Authors:Brock, William
Xepapadeas, Anastasios
Issue Date:2010
Series/Report no.:Nota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development 2010,155
Abstract:This paper develops linear quadratic robust control theory for a class of spatially invariant distributed control systems that appear in areas of economics such as New Economic Geography, management of ecological systems, optimal harvesting of spatially mobile species, and the like. Since this class of problems has an infinite dimensional state and control space it would appear analytically intractable. We show that by Fourier transforming the problem, the solution decomposes into a countable number of finite state space robust control problems each of which can be solved by standard methods. We use this convenient property to characterize 'hot spots' which are points in the transformed space that correspond to 'breakdown' points in conventional finite dimensional robust control, or where instabilities appear or where the value function loses concavity. We apply our methods to a spatial extension of a well known optimal fishing model.
Subjects:Distributed Parameter Systems
Robust Control
Spatial Invariance
Hot Spot
Agglomeration
JEL:C61
C65
Q22
Document Type:Working Paper
Appears in Collections:FEEM Working Papers, Fondazione Eni Enrico Mattei

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