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Equity and Sustainability: An Exposition

Author

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  • Rabi Bhattacharya
  • Mukul Majumdar

Abstract

The paper is an exposition of some issues involving sustainability of equitable (stationary) plans in infinite horizon models. We consider examples of deterministic as well as stochastic models. The models provide conditions on the possibility, inevitability or probability of extinction or collapse. JEL Classifications: D8, Q2, Q3

Suggested Citation

  • Rabi Bhattacharya & Mukul Majumdar, 2021. "Equity and Sustainability: An Exposition," Studies in Microeconomics, , vol. 9(1), pages 92-104, June.
    • Handle: RePEc:sae:miceco:v:9:y:2021:i:1:p:92-104
    DOI: 10.1177/2321022220971874
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    References listed on IDEAS

    as
    1. Rabi Bhattacharya & Hyeonju Kim & Mukul Majumdar, 2015. "Sustainability in the Stochastic Ramsey Model," Papers 1511.07419, arXiv.org.
    2. Bhattacharya,Rabi & Majumdar,Mukul, 2007. "Random Dynamical Systems," Cambridge Books, Cambridge University Press, number 9780521825658, October.
    3. Mukul Majumdar & Roy Radner, 1992. "Survival under Production Uncertainty," Palgrave Macmillan Books, in: Mukul Majumdar (ed.), Equilibrium and Dynamics, chapter 8, pages 179-200, Palgrave Macmillan.
    4. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    5. Bhattacharya,Rabi & Majumdar,Mukul, 2007. "Random Dynamical Systems," Cambridge Books, Cambridge University Press, number 9780521532723, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Sustainability; Equity; infinite horizon; stochastic model;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation

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