Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/57164 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Working Paper Series in Economics No. 220
Verlag: 
Leuphana Universität Lüneburg, Institut für Volkswirtschaftslehre, Lüneburg
Zusammenfassung: 
We study how human preferences affect the resilience of economies that depend on more than one type of natural resources. In particular, we analyze whether the degree of substitutability of natural resources in consumer needs may give rise to multiple steady states and path dependence even when resources are managed optimally. This is a major shift in the interpretation and analysis of resilience, from viewing (limited) resilience as an objective property of the economy-environment system to acknowledging its partially subjective, preference-based character. We find that society tends to be less willing to buffer exogenous shocks if resource goods are complements in consumption than if they are substitutes. Hence, the stronger the complementarity between the various types of resource goods, the less resilient the economy is.
Schlagwörter: 
resilience
substitutes and complements
discounting
multiple steady states
natural resources
path dependence
regime shifts
tipping points
JEL: 
C62
O13
Q01
Q20
Dokumentart: 
Working Paper

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