The environment and the long run: A comparison of different criteria

Graciela Chichilnisky, Andrea Beltratti and Geoffrey Heal

MPRA Paper from University Library of Munich, Germany

Abstract: Ws use growth models with natural resources to study the con- sequences of a ranking of intertemporal paths, due to Chichilnisky, which places weight on their very long run or limiting characteristics as well as on their characteristics over any finite period. This criterion shows more intertemporal symmetry or egalitarianism than the dis- counted utilitarian approach, which dearly emphasizes the immediate future at the expense of the long run. In this respect it captures the concerns of those who argue for sustainability and for a heightened sense of responsibility to the future. In some of the examples that we consider, the long-run characteristics of paths optimal by this criterion are a mixture of those of utilitarian paths and the "green golden rule" (the configuration which maximizes long-run sustainable utility from consumption and environment).

Keywords: Sustainable resources; environment; growth (search for similar items in EconPapers)
JEL-codes: D9 Q2 (search for similar items in EconPapers)
Date: 1994
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/7907/1/MPRA_paper_7907.pdf original version (application/pdf)

Related works:
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:pra:mprapa:7907

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().