The Contributions of Robert S. Pindyck

44 Pages Posted: 28 Mar 2023

See all articles by Ernst R. Berndt

Ernst R. Berndt

Massachusetts Institute of Technology (MIT) - Sloan School of Management; National Bureau of Economic Research (NBER)

Date Written: March 27, 2023

Abstract

Robert S. Pindyck has made significant contributions to a wide and diverse range of economic literatures; summarizing them is challenging. To keep the length of this review manageable, I confine my discussion to four areas in which his contributions have been particularly notable: (i) economic applications of optimal control theory; (ii) market structure and the exploitation of non‐renewable resource markets; (iii) uncertainty, irreversible investments, and option values; and (iv) economic issues underlying climate change and climate policy. Professor Pindyck has been a highly acclaimed educator in MIT classrooms, winning numerous teacher awards. He has also been a successful textbook author, with both his microeconomics and econometrics textbooks having been published in multiple editions.

Keywords: Optimal Control, Exhaustible and Non‐renewable Resources, Uncertainty, Irreversible, Option Value, Sunk Costs, Climate Policy

Suggested Citation

Berndt, Ernst R., The Contributions of Robert S. Pindyck (March 27, 2023). MIT Sloan Research Paper No. 6837, 2023, Available at SSRN: https://ssrn.com/abstract=4401252 or http://dx.doi.org/10.2139/ssrn.4401252

Ernst R. Berndt (Contact Author)

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