Synopses & Reviews
This book reviews techniques of dynamic optimization and shows how they can be applied to the management of various resource systems. In addition, it highlights the theory, models, and methods employed in the discipline of resource economics. Professors Conrad and Clark have written this text under the premise that the theory and concepts in this field are more quickly learned and made operational through numerical examples. By working through the problems at the end of each chapter, readers will learn the techniques that may be used in empirical studies of natural resources systems. Specifically, the chapters deal with renewable resources, nonrenewable resources, environmental management, and stochastic resource models, in addition to dynamic optimization.
Synopsis
In this book, Jon Conrad and Colin Clark develop the theory of resource economics.
Synopsis
In this book, Jon Conrad and Colin Clark develop the theory of resource economics.
Synopsis
The authors have written this text in the belief that the theory and concepts of resource are more quickly learned, more effectively made operational, and more truly understood if the reader is exposed to carefully explained numerical examples. By working through the problems at the end of each chapter, students will learn the techniques to be used in empirical studies of natural resource systems. The first chapter provides an introduction to optimization, including constrained optimization, dynamic allocation problems, dynamic programming, continuous time problems, and the maximum principle, and a discussion of various numerical and graphical techniques. The remaining chapters deal in depth with the economics of renewable resources, nonrenewable resources, with environmental management and with stochastic resource models.
Synopsis
A review of the techniques of dynamic optimization and their application to the management of various resource systems also highlights the theory, models and methods employed in the discipline of resource economics.
Table of Contents
Preface; 1. Resource allocation and optimization; 2. Renewable resources; 3. Nonrenewable resources; 4. Environmental management; 5. Stochastic resource models; References; Index.