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Negative externalities, defensive expenditures and labour supply in an evolutionary context

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  • ANTOCI, ANGELO
  • BARTOLINI, STEFANO

Abstract

In this model, well-being depends on leisure, on an environmental renewable resource, and on a non-storable output, which can substitute for the environmental resource or can satisfy needs different from those satisfied by the resource. Individuals have free access to the environmental resource, which is subject to negative externalities: that is, is depleted by the production and consumption of the output. Individuals react to negative externalities by increasing their labour supply in order to produce substitutes for the diminishing resource. The increase in production and consumption that ensues generates further deterioration of the future quality or quantity of the free resource, thus giving rise to a self-reinforcing process. Multiple equilibria and critical mass effects are consistent with the functioning of this economy and the resulting level of aggregate production may be higher than is socially desirable.

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Bibliographic Info

Article provided by Cambridge University Press in its journal Environment and Development Economics.

Volume (Year): 9 (2004)
Issue (Month): 05 (October)
Pages: 591-612

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Handle: RePEc:cup:endeec:v:9:y:2004:i:05:p:591-612_00

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Cited by:
  1. Angelo Antoci & Paolo Russu & Elisa Ticci, 2013. "Investment inflows and sustainable development in a natural resource-dependent economy," Department of Economics University of Siena, Department of Economics, University of Siena 670, Department of Economics, University of Siena.
  2. Stefano Bartolini & Luigi Bonatti, 2004. "Social Capital and its Role in Production: Does the Depletion of Social Capital Depress Economic Growth?," Department of Economics University of Siena, Department of Economics, University of Siena 421, Department of Economics, University of Siena.
  3. Angelo Antoci & Fabio Sabatini & Mauro Sodini, 2010. "The Solaria Syndrome: Social Capital in a Growing Hyper-technological Economy," Department of Economics University of Siena, Department of Economics, University of Siena 585, Department of Economics, University of Siena.
  4. Carboni, Oliviero A. & Russu, Paolo, 2013. "Linear production function, externalities and indeterminacy in a capital-resource growth model," Journal of Mathematical Economics, Elsevier, vol. 49(5), pages 422-428.

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