Abstract
We have formulated and solved a comprehensive model of the UK by using stochastic optimal control techniques. Our purpose was to derive an optimal plan for the UK to find a way in which the optimal transition from a stagnant economy to a growing economy would be possible in the face of dwindling natural resources and a possible energy crisis in the near future. We have derived a plan for the optimal development and exploration of the North Sea area. The main purpose of this research is to derive the optimal depletion rate for the dwindling energy resources such as coal, oil and gas, particularly oil.
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Bibliography
Kronsjö, T. O. M., ‘A decentralized economic planning system based on decomposition into only master problems’, Jahrbuch der Wirtschaft Osteuropas, Band 3 (Günter Olzog Verlag, München-Wien, 1972).
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© 1981 Dipak R. Basu
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Basu, D.R. (1981). Conclusion. In: Future Energy Policies for the UK. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05955-3_7
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DOI: https://doi.org/10.1007/978-1-349-05955-3_7
Publisher Name: Palgrave Macmillan, London
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