Endogenous growth theories developed initially along two broad trends: one emphasizes knowledge and dynamics, with explicit modeling of knowledge accumulation; the other takes a broader view of capital and encompasses human capital in its definition. The scale effect critique initiated another...

This book deals with dynamic timing decisions under uncertainty in the context of exhaustible resources. Adopting the dynamic programming techniqueof decomposing a large and complex problem into smaller and simpler ones, the book offers a unified treatment of the important subjects of...