Environmental management should be based on a long-run sustainable viewpoint. A stochastic control problem optimizing a long-run objective function is an ergodic control problem whose resolution can be achieved by solving an associated  Hamilton-Jacobi-Bellman (HJB) equation having an effective Hamiltonian.
<coherence> Environmental management should be based on a long-run sustainable viewpoint. A stochastic control problem optimizing a long-run objective function is an ergodic control problem whose resolution can be achieved by solving an associated  Hamilton-Jacobi-Bellman (HJB) equation having an effective Hamiltonian.
Environmental management optimizing a long-run objective function is an ergodic control problem whose resolution can be achieved by solving an associated Hamilton-Jacobi-Bellman (HJB) equation having an effective Hamiltonian.