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Robert Stephen PINDYCK

Robert Stephen PINDYCK, economist in the field of Microeconomic Theory; Industrial Organisation and Public Policy; Natural Resources. President, Association Environmental and Resource Economics, 1980; Council, Federal American Scientists.

Background

  • PINDYCK, Robert Stephen was born in 1945 in New York City, New York, United States of America.

  • Education

    • Bachelor of Science (Electrical Engineering), Master of Science (Electrical Engineering), Doctor of Philosophy Massachusetts Institute of Technology, Cambridge, Mass., USA, 1966, 1967, 1971.

    Career

    • Assistant Professor, Association Professor, Sloan School Management, Massachusetts Institute of Technology, Cambridge, Mass., USA, 9. Professor Applied Economics, Massachusetts Institute of Technology, Cambridge, Mass., USA, Cambridge, Massachusetts, since 1980. Association Editor, Journal of Economic Dynamics and Control., Energy Economics, since 1978.

      Advisory Editor, J. Energy and Development, since 1980. Editorial Board, Energy Systems and Policy, since 1980.

    Major achievements

    • President, Association Environmental and Resource Economics, 1980. Council, Federal American Scientists.

    Views

    Early work focussed on the use of control theoretic methods for the design and analysis of economic policy. This included applications to monetary policy, the design of development planning models, and the analysis of regulatory policies for individual markets. Later my work shifted to the economics of energy and natural resource markets, with a particular interest in the economics of resource exploration and the role of uncertainty.

    Related to this was an econometric study of sectoral energy demands, an analysis of the world oil market and the behaviour of the Organisation of Petroleum Export Countries cartel, and studies of cartel pricing and cartel behaviour in general. I have also been interested in the relationship of energy markets to the macroeconomy, and the macroeconomic effects of sudden and drastic changes in energy prices. Finally, my most recent work has dealt with the analysis of capital investment decisions under various kinds of uncertainty, as well as the determinants of secular trends in the stock market.

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