Foreclosure of Options in Sequential Resource Development Decisions

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/234 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/234 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/234 archive 351 disk0/00/00/02/48 2016-01-15 01:41:34 2021-08-27 17:07:41 2016-01-15 01:41:34 monograph show 2 Walters C.J. AL1355 Foreclosure of Options in Sequential Resource Development Decisions pub iis_ecl iis_env iis_ecn prog_ren This paper analyzes a series of examples of renewable resource development that involve sequential loss of decision options even in the absence of irreversible physical change. It appears that this "pathological" decision behavior arises not because of quantitative errors in judging benefits and costs of investment, but rather because basic qualitative relationships are often overlooked. Systems analysis as it is usually applied may do little more than aggravate the problem; we need new ways of looking at relationships between dynamical natural systems and the sequential investment decisions involved in their development. 1975-05 published RR-75-012 RR-75-012 10 2497 public research_report IIASA, Laxenburg, Austria 31 TRUE FALSE info:eu-repo/semantics/book