Research Paper

Consistent dynamic choice, non-renewable resource use, and uncertainty

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Title
Consistent dynamic choice, non-renewable resource use, and uncertainty
Content partner
Lincoln University
Collection
Lincoln University Research Archive
Description

The principles which guide non-renewable resource use are based partly on theoretical investigations of the consequences and the merits of use, which are both uncertain. Existing economic approaches to uncertainty do not correctly reflect a decision-maker's position in time. The power to determine future decisions is overstated, and a limited range of objectives can be investigated. These problems are addressed by developing a new approach to choice over long time periods. The approach is ...

Format
Research Paper
Research format
Thesis
Thesis level
Doctoral
Date created
1988
Creator
Baker, W. R.
URL
https://hdl.handle.net/10182/2170
Related subjects
economic / decision making / resource / non-renewable / depletion / dynamic / multi-stage / consistent / recursive / uncertainty / strategy / Environment and Resource Economics

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