On the Dynamic Theory of Astroeconomics

Stephen Odedoyin

MPRA Paper from University Library of Munich, Germany

Abstract: This paper considers the possible theoretical modelling of space exploration in line with the classical assumptions of economic analysis. Three models are examined and analyzed: a simple utility model; a game theoretic model in which each player or participating nation in space exploration follows some rules of rational behaviour involving some sort of strategy to maximize its winnings or successes and minimize losses or failures; as well as a dynamic optimization model.

Keywords: Astroeconomics; psychological propensity; vainglory effect; empyrean economics (search for similar items in EconPapers)
JEL-codes: Z0 Z00 (search for similar items in EconPapers)
Date: 2016-08-14, Revised 2016-09-30
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Journal of Economics and Sustainable Development No. 18.Vol. 7(2016): pp. 33-44

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:94543

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