Risk and resource economics: The state of the art

Ngo Van Long

doi:10.1007/978-1-349-06980-4

Risk and resource economics: The state of the art

Ngo Van Long^*

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

Abstract

Decision-making under uncertainty has always been a fascinating area of study in economics. One of the most difficult aspects of the theory is in its applications to intertemporal allocation problems. In the absence of a complete and perfect set of future markets, there is no simple and unique way of modelling the behaviour of firms and of individuals. The number of possible approaches is bewildering. This chapter is an attempt to survey some of the more fruitful approaches to the problem of economic choice under uncertainty in an intertemporal context, with particular reference to natural-resource economics.

Original language	English
Title of host publication	Risk and the Political Economy of Resource Development
Publisher	Palgrave Macmillan
Pages	59-73
Number of pages	15
ISBN (Electronic)	9781349069804
ISBN (Print)	9780333361917
DOIs	https://doi.org/10.1007/978-1-349-06980-4
Publication status	Published - 3 Jan 2016

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Risk and resource economics: The state of the art

Abstract

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