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Sustainability and its relation to efficiency under uncertainty

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  • Frank Krysiak

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  • Frank Krysiak, 2009. "Sustainability and its relation to efficiency under uncertainty," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 41(2), pages 297-315, November.
    • Handle: RePEc:spr:joecth:v:41:y:2009:i:2:p:297-315
    DOI: 10.1007/s00199-008-0397-x
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    1. Springer, Urs, 2003. "International diversification of investments in climate change mitigation," Ecological Economics, Elsevier, vol. 46(1), pages 181-193, August.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    3. Asheim, Geir B. & Buchholz, Wolfgang & Tungodden, Bertil, 2001. "Justifying Sustainability," Journal of Environmental Economics and Management, Elsevier, vol. 41(3), pages 252-268, May.
    4. Friðrik Már Baldursson & Guðmundur Magnússon, 1997. "Portfolio Fishing," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(3), pages 389-403, September.
    5. Richard T. Woodward, 2000. "Sustainability as Intergenerational Fairness: Efficiency, Uncertainty, and Numerical Methods," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 581-593.
    6. Richard B. Howarth, 1995. "Sustainability under Uncertainty: A Deontological Approach," Land Economics, University of Wisconsin Press, vol. 71(4), pages 417-427.
    7. Riley, John G., 1980. "The just rate of depletion of a natural resource," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 291-307, December.
    8. Alain Le Kama & Katheline Schubert, 2004. "Growth, Environment and Uncertain Future Preferences," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 28(1), pages 31-53, May.
    9. Alain Ayong Le Kama, 2001. "Preservation and exogenous uncertain future preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(3), pages 745-752.
    10. Geir Asheim & Bertil Tungodden, 2004. "Resolving distributional conflicts between generations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(1), pages 221-230, July.
    11. Fisher, Anthony C. & Krutilla, John V., 1974. "Valuing long run ecological consequences and irreversibilities," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 96-108, August.
    12. Edwards, Steven F. & Link, Jason S. & Rountree, Barbara P., 2004. "Portfolio management of wild fish stocks," Ecological Economics, Elsevier, vol. 49(3), pages 317-329, July.
    13. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 4, pages 76-84, Palgrave Macmillan.
    14. Paul A. Samuelson, 1970. "The Fundamental Approximation Theorem of Portfolio Analysis in terms of Means, Variances and Higher Moments," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(4), pages 537-542.
    15. Chichilnisky, Graciela & Beltratti, Andrea & Heal, Geoffrey, 1998. "Uncertain future preferences and conservation," MPRA Paper 7912, University Library of Munich, Germany.
    16. Kjell Arne Brekke & Geir B. Asheim, 2002. "Sustainability when capital management has stochastic consequences," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 921-940.
    17. Woodward, Richard T., 1999. "Sustainability As Intergenerational Fairness," Faculty Paper Series 24014, Texas A&M University, Department of Agricultural Economics.
    18. Frank Krysiak & Daniela Krysiak, 2006. "Sustainability with Uncertain Future Preferences," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 33(4), pages 511-531, April.
    19. Howe, Roger, 1987. "Sections and extensions of concave functions," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 53-64, February.
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    Citations

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    Cited by:

    1. Klara Helene Stumpf & Stefan Baumgärtner & Christian U. Becker & Stefanie Sievers-Glotzbach, 2015. "The Justice Dimension of Sustainability: A Systematic and General Conceptual Framework," Sustainability, MDPI, vol. 7(6), pages 1-35, June.
    2. Rosalia Castellano & Gabriella Bernardo & Gennaro Punzo, 2023. "Well-being in OECD countries: an assessment of technical and social efficiency using data envelopment analysis," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(2), pages 141-176, June.
    3. Hoberg, Nikolai & Baumgärtner, Stefan, 2017. "Irreversibility and uncertainty cause an intergenerational equity-efficiency trade-off," Ecological Economics, Elsevier, vol. 131(C), pages 75-86.
    4. W. Botzen & Jeroen Bergh, 2014. "Specifications of Social Welfare in Economic Studies of Climate Policy: Overview of Criteria and Related Policy Insights," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 1-33, May.
    5. Kitti, Mitri, 2018. "Sustainable social choice under risk," Mathematical Social Sciences, Elsevier, vol. 94(C), pages 19-31.
    6. Hahn, W. Andreas & Härtl, Fabian & Irland, Lloyd C. & Kohler, Christoph & Moshammer, Ralf & Knoke, Thomas, 2014. "Financially optimized management planning under risk aversion results in even-flow sustained timber yield," Forest Policy and Economics, Elsevier, vol. 42(C), pages 30-41.
    7. Castellano, Rosella & Cerqueti, Roy & Spinesi, Luca, 2016. "Sustainable management of fossil fuels: A dynamic stochastic optimization approach with jump-diffusion," European Journal of Operational Research, Elsevier, vol. 255(1), pages 288-297.
    8. Nikolai Hoberg & Stefan Baumgärtner, 2011. "Irreversibility, ignorance, and the intergenerational equity-efficiency trade-off," Working Paper Series in Economics 198, University of Lüneburg, Institute of Economics.
    9. Buchholz, Wolfgang & Schymura, Michael, 2012. "Expected utility theory and the tyranny of catastrophic risks," Ecological Economics, Elsevier, vol. 77(C), pages 234-239.
    10. Joachim Fuenfgelt & Stefan Baumgaertner, 2012. "A utilitarian notion of responsibility for sustainability," Working Paper Series in Economics 234, University of Lüneburg, Institute of Economics.

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    More about this item

    Keywords

    Sustainability; Efficiency; Uncertainty; Policy evaluation; Portfolio choice; Q01; D81; D63; G11;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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