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Time, Risk and Conflicts in Economics and Management Science: A Story About Turnpikes

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Decision & Control in Management Science

Part of the book series: Advances in Computational Management Science ((AICM,volume 4))

Abstract

This chapter surveys a class of models in economic theory and management science that deal with decision making in a dynamic environment, under uncertainty and in presence of competition. These models use the paradigms of optimal control, stochastic dynamic programming and dynamic games. They share the consideration of an infinite time horizon and the possibility to exploit an asymptotic stability property called the “turnpike”.

This paper is dedicated to my former PhD students and to my colleagues, around the world, who have participated and helped in the development of my research activity over more than three decades. I thank particularly D.A. Carlson for many helpful suggestions in the presentation of some fundamental ideas in this paper.

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Authors
  1. Alain Haurie
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Editors and Affiliations

  1. GERAD and HEC-Montréal, Canada

    Georges Zaccour

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Haurie, A. (2002). Time, Risk and Conflicts in Economics and Management Science: A Story About Turnpikes. In: Zaccour, G. (eds) Decision & Control in Management Science. Advances in Computational Management Science, vol 4. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3561-1_1

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  • DOI: https://doi.org/10.1007/978-1-4757-3561-1_1

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4419-4995-0

  • Online ISBN: 978-1-4757-3561-1

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