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Summary. The aim of the study is to analyze when and why Norwegian governments carry out expansive decisions rather than contractive ones. Following the politico‐economic approach, it is proposed that both the governmental re‐election prospects and economic indicators may influence macro‐economic decision making.The article attempts to employ this framework in an empirical analysis of events data, i.e. in an analysis of 318 decision events spread throughout the period from 1964 to 1984. Unemployment is the major determinant of macro‐economic policies. The hypothesis of political business‐cycle receives only limited empirical support, and there is little reliable evidence of socialist governments responding differently to economic and political factors compared to borgeois governments.

This book directs the engineering manager or the undergraduate student preparing to become an engineering manager, who is or will become actively engaged in the management of economic-risk trade-off decisions for engineering investments within an organizational system. In today's global economy, this may mean managing the economic risks of engineering investments across national boundaries in international organizations, government, or service organizations. As such, this is an applied book. The book's goal is to provide an easy to understand, up to date, and coherent treatment of the management of the economic-risk trade-offs of engineering investments. This book accomplishes this goal by cumulatively sequencing knowledge content from foundational economic and accounting concepts to cost estimating to the traditional engineering economics knowledge culminating in fundamental engineering managerial economic decision-making incorporating risk into engineering management economic decisions.[Amazon.com] ; https://digitalcommons.odu.edu/emse_books/1012/thumbnail.jpg

I. Introductory problems -- 1. Stochastic optimization: examples and applications -- 2. Stochastic optimization in linear economic models -- II. Linear quadratic models -- 3. Informetric analysis of dynamic decision rules in applied economic models. -- 4. Optimal output—inventory decisions in stochastic markets -- 5. A minimax policy for optimal portfolio choice -- 6. A two-period stochastic inventory model -- 7. Risk in supply response: an econometric application -- 8. Optimal portfolio investment in a dynamic horizon -- 9. Short-term industry — output behavior: an economic analysis -- III. Game theory in economics -- 10. Optimal control in limit pricing under uncertain entry -- 11. Game theory models applied to economic systems: their information structure and stability -- 12. Stochastic models in dynamic economics: problems of time inconsistency, causality and estimation -- IV. Efficiency analysis and risk aversion in economic models -- 13. Multivariate risk aversion with applications -- V. Economic planning and stochastic optimization -- 14. Uncertainty and economic planning, selective survey and appraisal -- 15. Risk aversion in decision models -- 16. Risk aversion, robustness and adaptive information in decision models -- VI. Index.

One. Finite Alternatives -- § 1. Introduction -- § 2. Geometric Interpretation -- § 3. Principle of Optimality -- § 4. Value Functions for Infinite Horizons: Value Iteration -- § 5. Policy Iteration -- § 6. Stability Properties -- § 7. Problems without Discount and with Infinite Horizon -- § 8. Automobile Replacement -- § 9. Linear Programming and Dynamic Programming -- References and Selected Reading to Part One -- Two. Risk -- § 10. Basic Concepts -- § 11. The Value Function -- § 12. The Principle of Optimality -- § 13. Policy Iteration -- § 14. Stability Properties -- § 15. Solution by Linear Programming -- § 16. Machine Care -- § 17. Inventory Control -- § 18. Uncertainty: Adaptive Programming -- § 19. Exponential Weighting -- References and Selected Reading to Part Two -- Three. Continuous Decision Variable -- § 20. An Allocation Problem -- § 21. General Theory -- § 22. Linear Inhomogeneous Problems -- § 23. A Turnpike Theorem -- § 24. Sequential Programming -- § 25. Risk -- § 26. Quadratic Criterion Function -- References and Selected Reading to Part Three -- Four. Decision Processes in Continuous Time -- § 27. Discrete Action -- § 28. Variable Level -- § 29. Risk of Termination -- § 30. Discontinuous Processes—Repetitive Decisions -- § 31. Continuous Time Inventory Control -- § 32. Continuous Action—Steady State Problems -- § 33. The Principle of Optimality in Differential Equation Form -- § 34. Dynamic Programming and the Calculus of Variations -- § 35. Variation under Constraints: The Maximum Principle -- References and Selected Reading to Part Four -- Author Index.