Numerical Search for a Global Solution in a Two-Mode Economy Model with an Exhaustible Resource of Hydrocarbons
EA Leonov, AV Polbin - Mathematical Models and Computer Simulations, 2022 - Springer
EA Leonov, AV Polbin
Mathematical Models and Computer Simulations, 2022•SpringerThis study is devoted to the numerical search for the optimal trajectory in the model of
economic growth with two sectors: production and energy. In the energy sector, there is an
opportunity to use energy resources from limited reserves. Switching the economy to a mode
of operation without a resource, the moment of which is not fixed and depends on the
behavior of agents, introduces features into the phase portrait and necessitates a numerical
search for a global solution, which is what this study is aimed at. To solve this …
economic growth with two sectors: production and energy. In the energy sector, there is an
opportunity to use energy resources from limited reserves. Switching the economy to a mode
of operation without a resource, the moment of which is not fixed and depends on the
behavior of agents, introduces features into the phase portrait and necessitates a numerical
search for a global solution, which is what this study is aimed at. To solve this …
Abstract
This study is devoted to the numerical search for the optimal trajectory in the model of economic growth with two sectors: production and energy. In the energy sector, there is an opportunity to use energy resources from limited reserves. Switching the economy to a mode of operation without a resource, the moment of which is not fixed and depends on the behavior of agents, introduces features into the phase portrait and necessitates a numerical search for a global solution, which is what this study is aimed at. To solve this multidimensional problem, it is proposed to use a shooting algorithm using a modification of Newton’s method to update the starting point and also discuss the nuances of applying this approach to economic problems of this type.
Springer
