 Viability standards and multi-criteria maximinPedro Gajardo and Luc Doyen () Cahiers du GREThA (2007-2019) from Groupe de Recherche en Economie Théorique et Appliquée (GREThA) Abstract: This paper deals with sustainability criteria and standards. The maximin cri-terion, as the highest performance that can be sustained over time, promotes intergenerational equity, a pivotal issue for sustainability. The viable control approach, by investigating trajectories and actions complying over time with various standards and constraints, provides major insights into strong sustain-ability. The present paper addresses the links between maximin and viability approaches in a multi-criteria context. It first shows how ‘Pareto maximin’ can be characterized through viability kernels. Such a result makes it possible to determine the trade-offs and/or synergies between non-substitutable economic and ecological standards underlying strong sustainability. The second main re-sult of the paper is to propose algorithms derived from the viability version of dynamic programming to approximate numerically Pareto maximin values, con-trols and sustainable standards. Two examples relying on renewable resource management illustrate these analytic and numerical findings. Keywords: Strong Sustainability; Maximin; Multi-criteria; Viability; Dynamic programming; Renewable resources (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:grt:wpegrt:2018-04 Access Statistics for this paper More papers in Cahiers du GREThA (2007-2019) from Groupe de Recherche en Economie Théorique et Appliquée (GREThA) Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.