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Sustained development of a society with a renewable resource

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  • Cairns, Robert D.
  • Tian, Huilan

Abstract

A maximin program is applied to a policy of sustaining a simple society whose population is dependent on a resource subject to logistic growth. Regular and non-regular paths are characterized. There are continua of both regular and non-regular solutions, the type depending on the initial conditions. A non-regular path involves an intermediate part in which the sustainment constraint is not effective. All solutions are time consistent and Pareto optimal. Because a problem may not be regular, it is not valid to assume that sustainment implies constant utility.

Suggested Citation

  • Cairns, Robert D. & Tian, Huilan, 2010. "Sustained development of a society with a renewable resource," Journal of Economic Dynamics and Control, Elsevier, vol. 34(6), pages 1048-1061, June.
    • Handle: RePEc:eee:dyncon:v:34:y:2010:i:6:p:1048-1061
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    References listed on IDEAS

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    Cited by:

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    3. Geir Asheim & Stéphane Zuber, 2013. "A complete and strongly anonymous leximin relation on infinite streams," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(4), pages 819-834, October.
    4. Doyen, L. & Martinet, V., 2012. "Maximin, viability and sustainability," Journal of Economic Dynamics and Control, Elsevier, vol. 36(9), pages 1414-1430.
    5. Zhang Wei-Bin, 2013. "Habit Formation and Preference Change with Capital and Renewable Resources," Business Systems Research, Sciendo, vol. 4(2), pages 108-125, December.
    6. Martinet, Vincent, 2011. "A characterization of sustainability with indicators," Journal of Environmental Economics and Management, Elsevier, vol. 61(2), pages 183-197, March.
    7. Cairns, Robert D. & Martinet, Vincent, 2014. "An environmental-economic measure of sustainable development," European Economic Review, Elsevier, vol. 69(C), pages 4-17.
    8. Zhang Wei-Bin, 2011. "Renewable Resources, Capital Accumulation, and Economic Growth," Business Systems Research, Sciendo, vol. 2(1), pages 24-35, January.
    9. Late Lawson & Lawson Late, 2020. "A simple Ricardo-Malthusian model of population, deforestation and biodiversity loss," Working Papers 2020.08, FAERE - French Association of Environmental and Resource Economists.
    10. Zhang Wei-Bin, 2011. "Economic Growth And Dynamics Of Renewable Resource With Housing, Agricultural And Resource Land Use," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 6(2), pages 151-174, August.
    11. ZHANG Wei-Bin, 2015. "Values Of Land And Renewable Resources In A Three-Sector Economic Growth Model," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 10(1), pages 156-186, April.
    12. Wei-Bin Zhang, 2017. "Growth with Endogenous Capital, Knowledge, and Renewable Resources," Romanian Statistical Review, Romanian Statistical Review, vol. 65(1), pages 19-37, March.
    13. Asheim, Geir B. & Hartwick, John M. & Yamaguchi, Rintaro, 2023. "Sustainable per capita consumption under population growth," Resource and Energy Economics, Elsevier, vol. 73(C).
    14. Wei-Bin ZHANG, 2014. "Human Capital, Wealth, and Renewable Resources," Expert Journal of Economics, Sprint Investify, vol. 2(1), pages 1-20.

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