The Zero discounting and maximin optimal paths in a simple model of global warming

Antoine d'Autume (), John M. Hartwick () and Katheline Schubert
Additional contact information
Antoine d'Autume: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement
John M. Hartwick: Queen's University - Queen's University [Kingston, Canada]

Post-Print from HAL

Abstract: Following Stollery [1998], we extend the Solow, Dasgupta-Heal model to analyze the effects of global warning. The rise of temperature is caused by the use of fossil resources so that the temperature level can be linked to the remaining stock of these resources. The rise of temperature affects both productivity and utility. We characterize optimal solutions for the maximin and zero-discounting cases and present closed form solutions for the case where the production function and utility function are Cobb-Douglas, and the temperature level is an exponential function of the remaining stock of resources. We show that a greater weight of temperature in the preferences or a larger intertemporal elasticity of substitution both lead to postpone resource use.

Keywords: Maximin; zero discounting; global warming; critère utilitariste non escompté; changement climatique (search for similar items in EconPapers)
Date: 2009-02
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00367917v1
References: Add references at CitEc
Citations:

Published in 2009

Downloads: (external link)
https://shs.hal.science/halshs-00367917v1/document (application/pdf)

Related works:
Journal Article: The zero discounting and maximin optimal paths in a simple model of global warming (2010)
Working Paper: The Zero Discounting and Maximin Optimal Paths in a Simple Model of Global Warming (2010)
Working Paper: The Zero Discounting and Maximin Optimal Paths in a Simple Model of Global Warming (2010)
Working Paper: The Zero Discounting and Maximin Optimal Paths in a Simple Model of Global Warming (2010)
Working Paper: The Zero discounting and maximin optimal paths in a simple model of global warming (2009)
Working Paper: The zero discounting and maximin optimal paths in a simple model of global warming (2009)
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:hal:journl:halshs-00367917

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().