OxTalks will soon be transitioning to Oxford Events (full details are available on the Staff Gateway). A two-week publishing freeze is expected in early Hilary to allow all events to be migrated to the new platform. During this period, you will not be able to submit or edit events on OxTalks. The exact freeze dates will be confirmed as soon as possible.
If you have any questions, please contact halo@digital.ox.ac.uk
We study the welfare function and the optimal control of the shallow lake problem with multiplicative noise. We show that the welfare function is the viscosity solution of the associated Bellman equation and we establish several properties including its asymptotic behaviour at infinity. In the presence of noise, the optimally controlled lake may have a bimodal invariant distribution and exhibit metastable transitions between oligotrophic (blue) and eutrophic (green) states.
