This paper discusses how to design, solve and estimate dynamic programming models using the open source package niqlow. Reasons are given for why such a package has not appeared earlier and why the object-oriented approach followed by niqlow seems essential. An example is followed that starts...

We study the optimal R&D trajectory in a setting where new technologies are never perfect backstops in the sense that there is no perfectly clean technology that eventually solves the pollution problem once and for all. New technologies have stings attached, i.e. each emits a specific stock...