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Sustainable Development and Complex Ecosystems. An Economist's View

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  • Rauscher, Michael

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.

Suggested Citation

  • Rauscher, Michael, 1996. "Sustainable Development and Complex Ecosystems. An Economist's View," Thuenen-Series of Applied Economic Theory 02, University of Rostock, Institute of Economics.
    • Handle: RePEc:zbw:roswps:02
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    File URL: https://www.econstor.eu/bitstream/10419/78260/1/wp002thuenen.pdf
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    References listed on IDEAS

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    5. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
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    7. Pezzey, J., 1992. "Sustainable Development Concepts; An Economic Analysis," Papers 2, World Bank - The World Bank Environment Paper.
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    Cited by:

    1. Köhn, Jörg, 1996. "Thinking in Terms of System Hierarchies and Velocites. What makes Development Sustainable?," Thuenen-Series of Applied Economic Theory 04, University of Rostock, Institute of Economics.

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