Dynamic Timing Decisions Under Uncertainty

1. Front Matter

   Pages i-x

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2. Introduction

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 1-6

3. Resource Economics Modelling and the Technique of Optimal Control

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 7-45

4. R & D Timing, Innovation and Resource Depletion Under Certainty

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 47-72

5. R & D Timing, Innovation and Resource Depletion Under Uncertainty

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 73-108

6. Theoretical Resource Exploration Over Space and Time

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 109-143

7. R & D Timing and Innovation: A Bilateral Resource Monopoly Dynamic Game

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 145-174

8. Conclusion

   • Nguyen Manh Hung, Nguyen Van Quyen

   Pages 175-179

9. Back Matter

   Pages 181-198

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Jay Forrester's Economic Dynamics was published in 1971 and The Limits to Growth by Dennis Meadows and his associates appeared a year later. The publication of those two books gave rise to twenty years of intense research into the economics of exhaustible resources, research which everywhere has had a substantial impact both on public debate and on academic curricula. And now, just as that line of research is losing steam, economists are focussing on problems associated with the degradation of the natural environment, problems which call for models which, in their formal structure, are quite similar to those already developed in resource economics. This is therefore an appropriate moment for the appearance of a thorough exposition of the economics of exhaustible resources. For that is what Nguyen Manh Hung and Nguyen Van Quyen have provided. Their splendid new book covers equally well the older Hotelling-inspired theory of cake-eating and the economics of search and R&D designed to uncover new and cheaper sources of supply. It provides an entree to the whole subject of resource economics, as well as many new discoveries which will be of interest to experienced researchers.

• Dynamische Programmierung
• Innovation
• Innovationen
• Resourcenökonomie
• dynamic programming
• economics
• industrial organization
• macroeconomics
• modeling
• optimal control
• resource economics

• GREEN-Département d’économique, Université Laval, Ste-Foy, Canada

  Nguyen Manh Hung

• Département d’économique, Université d’Ottawa, Ottawa, Canada

  Nguyen Van Quyen

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