A closed form solution to Stollery's global warming problem with temperature in utility

Andrei Bazhanov

MPRA Paper from University Library of Munich, Germany

Abstract: Stollery (1998) studied a polluting oil extracting economy governed by the constant utility criterion. The pollution caused the growth of temperature, negatively affecting production and utility. Stollery provided a closed form solution for the case with the Cobb-Douglas production function and temperature affecting only production. This paper offers a closed form solution to a non-trivial example of this economy with utility affected by temperature.

Keywords: essential nonrenewable resource; polluting economy; sustainable development; special function representation (search for similar items in EconPapers)
JEL-codes: O13 Q32 Q38 (search for similar items in EconPapers)
Date: 2010-04-29
New Economics Papers: this item is included in nep-ene and nep-env
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