Rationality and the exploitation of natural resources: a psychobiological conceptual model for sustainability

Andres Ruiz Serrano (), Andrea Musumeci (), Juan Julie Li (), Mauricio Ruiz Serrano () and Carolina Serrano Barquin ()
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Andres Ruiz Serrano: City University of Hong Kong
Andrea Musumeci: City University of Hong Kong
Juan Julie Li: City University of Hong Kong
Mauricio Ruiz Serrano: Universidad Autonoma del Estado de Mexico
Carolina Serrano Barquin: Universidad Autonoma del Estado de Mexico

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2025, vol. 27, issue 6, No 33, 13167-13189

Abstract: Abstract This article proposes a psychobiological conceptual model that incorporates the vulnerability and exhaustibility of the ecosystem into the notion of rational behavior. After providing a review of relevant literature in economics, psychology and sociology, we analyze the theoretical and practical limitations of economic rationality under conditions of climate devastation. By employing a logical consequence approach, we describe and broaden the cognitive process of rational choice to include the influence of externalities, institutions, markets, and the ecosystem. We propose two existing constructs as perceptual conditions restraining the rational exploitation of natural resources: restitution and substitution. These constructs are conditioned by the degree of the irreplaceability of materials. Under these premises, we purport that individuals act in a rational manner subject to the extent of restitution and substitution of resources, depending on their perception of economic, environmental, and social risk.

Keywords: Rationality; Natural resources; Sustainable development; General system theory; Institutional theory; Progress (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10668-024-04470-3

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