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Dynamic Timing Decisions Under Uncertainty by Nguyen M. Hung
Dynamic Timing Decisions Under Uncertainty by Nguyen M. Hung
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Dynamic Timing Decisions Under Uncertainty

Essays on Invention, Innovation and Exploration in Resource Economics
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Description

This book deals with dynamic timing decisions under uncertainty in the context of exhaustible resources. Adopting the dynamic programming technique of 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 switch regimes is the main theme throughout the book. The approach offered can be used to study similar problems in industrial organization or dynamic macroeconomics.
Release date NZ
March 28th, 1994
Audiences
  • Postgraduate, Research & Scholarly
  • Professional & Vocational
Illustrations
X, 198 p.
Pages
198
Dimensions
170x244x11
ISBN-13
9783540576495
Product ID
13827363

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