Modeling myopia: Application to non-renewable resource extraction
We develop a parsimonious model of myopia with an infinitesimal period of commitment as an extension to a standard dynamic optimization in a continuous-time environment. We clearly distinguish the processes of planning future controls and choosing the current control, which makes the model both anal...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2013
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/1522 https://ink.library.smu.edu.sg/context/soe_research/article/2521/viewcontent/Modeling_Myopia_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |