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On the Dynamic Theory of Astroeconomics

Author

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  • Odedoyin, Stephen

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.

Suggested Citation

  • Odedoyin, Stephen, 2016. "On the Dynamic Theory of Astroeconomics," MPRA Paper 94543, University Library of Munich, Germany, revised 30 Sep 2016.
    • Handle: RePEc:pra:mprapa:94543
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    File URL: https://mpra.ub.uni-muenchen.de/94543/1/MPRA_paper_94543.pdf
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    Cited by:

    1. Odedoyin, Stephen, 2018. "On the Political Economy of Space Exploration," MPRA Paper 94426, University Library of Munich, Germany, revised 05 Jun 2019.

    More about this item

    Keywords

    Astroeconomics; psychological propensity; vainglory effect; empyrean economics;
    All these keywords.

    JEL classification:

    • Z0 - Other Special Topics - - General
    • Z00 - Other Special Topics - - General - - - General

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