Uncertainty and irreversibility in groundwater resource management

Article Abstract:

A study focuses on the allocation of groundwater resources under uncertainty as regards an influential event's occurrence. The resource is considered irreversible because the resource cannot be used after its occurrence. The uncertainty associated with the event occurrence level is found to have a pronounced effect on optimal exploitation policies. Equilibrium intervals were identified when, under uncertainty, the event occurrence level is unknown. Optimal processes initiated somewhere else were also shown to converge to an interval boundary.

Water, Underground, Groundwater, Environmental economics, Irreversible processes, Irreversible processes (Thermodynamics), Uncertainty

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Scarcity, growth and R&D

Article Abstract:

A study conducted to reduce the cost of backstop technologies by analyzing the combination of resource-based economic growth with Research and development (R&D), is presented. The effects of backstop R&D programs on prices of scarce resources and growth of the organization are determined.

United States, Research and Development in the Physical, Engineering, and Life Sciences, Scientific Research and Development Services, Commercial physical research, Research & Development-Industry, Science, Research & Development, Usage, Research and development, Industrial research, Technology application, Corporate growth, Product shortage, Shortages, Industry growth

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Welfare measurement under threats of environmental catastrophes

Article Abstract:

Welfare measures are studied that is used to analyze the occurrence of catastrophic events. The study is conducted using the parable apparatus method of Weitzman and Lofgren.

Science & research, Economics, Disasters, Economic methods

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