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Dynamic Timing Decisions Under Uncertainty

Name: Dynamic Timing Decisions Under Uncertainty
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 02172674
Price: 51.25 EUR
Availability: InStock
Author: Nguyen M. Hung
ISBN: 9783540576495

Essays on Invention, Innovation and Exploration in Resource Economics

Nguyen M. Hung

Nguyen V. Quyen

Language

English

Book Paperback

Libristo code: 02172674

Publishers Springer-Verlag Berlin and Heidelberg GmbH & Co. KG, March 1994

This book deals with dynamic timing decisions under§uncertainty in the context of exhaustible resour... Full description

Libristo code: 02172674

125 b

51.25 €

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This book deals with dynamic timing decisions under§uncertainty in the context of exhaustible resources.§Adopting the dynamic programming techniqueof decomposing a§large and complex problem into smaller and simpler ones, the§book offers a unified treatment of the important subjects of§exploration and technological innovation in the economics of§exhaustible resources. These processes generate the dynamics§of an economic system and might induce this system to switch§from one dynamic regime to another. The question of how and§when a policy maker should switchregimes is the main theme§throughout the book. The approach offered can be used to§study similar problems in industrial organization or dynamic§macroeconomics.