Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/142522 
Autor:innen: 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
EERI Research Paper Series No. 11/2008
Verlag: 
Economics and Econometrics Research Institute (EERI), Brussels
Zusammenfassung: 
I offer an approach linking a welfare criterion to the “sustainable development opportunities” of the economy. This implies a dependence of a criterion on the information about the current state. I consider the problem for the Dasgupta-Heal-Solow-Stiglitz model with externalities. The economy-linked criterion is constructed on an example of the maximin principle applied to a hybrid level-growth measure. This measure includes as special cases the conventional measures of consumption level and percent change as a measure of growth. The hybrid measure or geometrically weighted percent can be used for measuring sustainable growth as an alternative to percent. The closed form solutions are obtained for the optimal paths including the paths, dynamically consistent with the updates in reserve estimates.
Schlagwörter: 
Essential nonrenewable resource
modified Hotelling Rule
economy-linked criterion
geometrically weighted percent
normative resource peak
JEL: 
O13
O47
Q32
Q38
Dokumentart: 
Working Paper

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