This paper is a survey of the theory of stochastic optimal economic growth.

The paper develops a simple economic model of a biological invasion. The natural growth of the invasion is non-convex and the immediate cost of controlling the invasion depends on the level of current control as well as the current size of the invasion. Greater control raises control costs today...

Incomplete information about (independent) private valuations of charities by potential donors provides an important strategic rationale for announcement of donations during fundraising drives and explains why donors may add to their initial contributions after learning about contributions made...

We analyze a dynamic version of the Akerlof-Wilson "lemons" market in a competitive durable good setting. There is a fixed set of sellers with private information about the quality of their wares. The price mechanism sorts sellers of different qualities into different time periods--prices and...