Characterizing the Sustainability Problem in an Exhaustible Resource Model

Tapan Mitra, Geir Asheim, Wolfgang Buchholz () and Cees Withagen

No 3758, CESifo Working Paper Series from CESifo

Abstract: The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the sustainability problem in this model without reference to the time path. As a byproduct we show general existence of a maximin optimal path under weaker conditions that those employed in previous work. Our proofs yield new insights into the meaning and significance of Hartwick's reinvestment rule.

Keywords: sustainability; maximin (search for similar items in EconPapers)
JEL-codes: O10 Q32 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.cesifo.org/DocDL/cesifo1_wp3758.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Unavailable

Related works:
Journal Article: Characterizing the sustainability problem in an exhaustible resource model (2013)
Working Paper: Characterizing the Sustainability Problem in an Exhaustible Resource Model (2012)
Working Paper: Characterizing the sustainability problem in an exhaustible resource model (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_3758

Access Statistics for this paper

More papers in CESifo Working Paper Series from CESifo Contact information at EDIRC.
Bibliographic data for series maintained by Klaus Wohlrabe ().