Life span and the problem of optimal population size

Raouf Boucekkine (), Giorgio Fabbri and Fausto Gozzi

No 2011018, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: We reconsider the optimal population size problem in a continuous time economy populated by homogenous cohorts with a fixed life span. Linear production functions in the labor input and standard rearing costs are also considered. First, we study under which conditions the successive cohorts will be given the same consumption per capita. We show that this egalitarian rule is optimal whatever the degree of altruism when life spans are infinite. However, when life spans are finite, this rule can only be optimal in the Benthamite case, i.e. when the degree of altruism is maximal. Second, we prove that under finite life spans the Millian welfare function leads to optimal extinction at finite time whatever the lifetime. In contrast, the Benthamite case is much more involved: for isoelastic utility functions, it gives rise to two threshold lifetime values, say T0

Keywords: Optimal population size; Benthamite Vs Millian criterion; finite lives; optimal extinction (search for similar items in EconPapers)
JEL-codes: C61 D63 D64 O40 (search for similar items in EconPapers)
Pages: 41
Date: 2011-04-04
New Economics Papers: this item is included in nep-age and nep-dge
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: Life span and the problem of optimal population size (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2011018

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