Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/78260
Authors: 
Rauscher, Michael
Year of Publication: 
1996
Series/Report no.: 
Thünen-Series of Applied Economic Theory 02
Abstract: 
The paper surveys economic aspects of sustainability and the use of complex ecological systems. In a first step, an economist's view of the concept of sustainability is presented. Then, a simple model of the economic use of a dynamic ecological system is discussed. It is shown how economically optimal trajectories look like, in which circumstances it may be optimal to destroy the ecosystem, and which problems arise if this ecosystem is a common-property resource. Extensions of the model that add complexity and uncertainty are referred to briefly. Finally, some economic concepts to determine the value of ecosystems are presented.
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.