Life span and the problem of optimal population size

Raouf Boucekkine (), Giorgio Fabbri and Fausto Gozzi

Working Papers from HAL

Abstract: We reconsider the optimal population size problem in a continuous time economy populated by homogenous cohorts with a fixed life span. This assumption is combined with a linear production function in the labor input and standard rearing costs. A general social welfare function is specified, admitting the Millian and Benthamite cases as polar parameterizations. It is shown that if the lifetime is low enough, population is asymptotically driven to extinction whatever the utility function and the level of inter-generational altruism. Moreover, population is driven to extinction at finite time whatever the values of lifetime and altruism provided the utility function is negative. When the utility function is positive, it is shown that 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 positive utility functions, it gives rise to two threshold lifetime values, say T_0

Keywords: Optimal population size; Benthamite Vs Millian criterion; finite lives; optimal extinction; optimal control of infinite dimensioned problems (search for similar items in EconPapers)
Date: 2010
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00536073
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://shs.hal.science/halshs-00536073/document (application/pdf)

Related works:
Working Paper: Life span and the problem of optimal population size (2011)
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:wpaper:halshs-00536073

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().