The book, Sustainability and Resources: Theoretical Issues in
Dynamic Economics, presents a collection of mathematical models
dealing with sustainability and resource management.The focus in
Part A is on harvesting renewable resources, while Part B explores
the optimal extraction of exhaustible resources. Part C introduces
models dealing with uncertainty. Some are descriptive models;
others have deep roots in intertemporal welfare economics. The
tools of dynamic optimization developed in the 1960s are used in a
formal, rigorous presentation to address wide-ranging issues that
have appeared in academic research as well as policy debates on the
world stage.The book also provides a self-contained treatment that
is accessible to advanced undergraduate and graduate students, who
are interested in dynamic models of resource allocation and social
welfare, resource management, and applications of optimization
theory and methods of probability theory to economics. For
researchers in dynamic economics, it will be an invaluable source
for formal treatment of substantive macroeconomic issues raised by
policymakers. The part dealing with uncertainty and random
dynamical systems (largely developed by the author and his
collaborators) exposes the reader to contemporary frontiers of
research on stochastic processes with novel applications to
economic problems.
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