Emission-Photosynthesis Imbalance and Climate Change:Forest Land under Intensified Uncertainty and Expected Utility Maximization

Amnon Levy

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: This paper introduces photosynthesis into the motion-equation of the atmospheric stock of carbon-dioxide as a counterpart endogenous factor to emissions of this principal greenhouse gas from lands occupied by humans. By doing so, the paper links the stock of atmospheric carbon-dioxide, hence climate-change and uncertainty, to the allocation of usable land to humans and forest. The public planners can control this allocation and, consequently, the atmospheric stock of carbon-dioxide, climate-change and future usable land by setting land-rates in accordance with use. The analysis considers two types of land-use for expected utility maximizing humans and derives the effects of the land-rates and photosynthesis’ efficiency on the size of the forest.

Keywords: Carbon Emissions; Photosynthesis; Climate-Change; Expected Utility; Land-Rates; Forest Size (search for similar items in EconPapers)
JEL-codes: Q52 Q54 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2011
New Economics Papers: this item is included in nep-agr, nep-env and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:uow:depec1:wp11-08

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