Fair intergenerational sharing of a natural resource
AbstractIn this article, overlapping generations are extracting a natural resource over an infinite future. We examine the fair allocation of resource and compensations among generations. Fairness is defined by core lower bounds and aspiration upper bounds. The core lower bounds require that every coalition of generations obtains at least what it could achieve by itself. The aspiration upper bounds require that no coalition of generations enjoys a higher welfare than it would achieve if nobody else extracted the resource. We show that, upon existence, the allocation that satisfies the two fairness criteria is unique and assigns to each generation its marginal contribution to the preceding generation. Finally, we describe the dynamics of such an allocation.
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Bibliographic InfoArticle provided by Elsevier in its journal Mathematical Social Sciences.
Volume (Year): 59 (2010)
Issue (Month): 2 (March)
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Web page: http://www.elsevier.com/locate/inca/505565
Natural Resources Sustainable Core Fairness Overlapping generations;
Other versions of this item:
- d'ALBIS Hippolyte & AMBEC Stefan, 2009. "Fair intergenerational sharing of a natural resource," LERNA Working Papers 09.23.299, LERNA, University of Toulouse.
- d'Albis, Hippolyte & Ambec, Stefan, 2009. "Fair Intergenerational Sharing of a Natural Resource," TSE Working Papers 09-084, Toulouse School of Economics (TSE).
- Hippolyte D'Albis & Stefan Ambec, 2010. "Fair Intergenerational Sharing of a Natural Resource," Post-Print hal-00630440, HAL.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Visite guidée au coeur des travaux du Meilleur jeune économiste 2012 (2/2)
by Matthieu Solignac in Regards croisés sur l'économie on 2012-06-10 22:05:40
- Wadho, Waqar Ahmed, 2011. "Education, Rent-seeking and the Curse of Natural Resources," MPRA Paper 37831, University Library of Munich, Germany.
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