文章基本信息

标题：EXHAUSTIBLE RESOURCE ALLOCATION, INTERGENERATIONAL EQUITY, AND SUSTAINABILITY
本地全文：下载
作者：Knapp, Keith C.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：1996
页码：60-67
出版社：Food Distribution Research Society
摘要：An OLG model with exhaustible resources and solar energy is developed, and equilibrium time paths are characterized numerically using recursive methods. For the parameter values considered, resource prices increase over time, and extractions, output, and utility decline over time until a steady-state is reached. Decreasing the intertemporal elasticity of substitution or raising consumers' subjective discount rate hastens exhaustion of the resource stock. Market equilibrium can result in much quicker use of the stock than social optimality under a constant discount rate, with consequent higher utility for early generations and lower utility for future generations in contrast to social optimality.