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The Intergenerational Case of Missing Markets and Missing Voters

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Author Info
Jacobus A. Doeleman
Todd Sandler

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Abstract

A simple game formulation is used to examine the possibility of linking generations when a future generation will confront a risk that can be alleviated by an earlier generation's investment. An insurance market will function provided that the overlapping generations are sufficiently near in time and share risks. Without propinquity or shared risks, there is a need for intervention to overcome the problems of missing markets and missing voters. This intervention should take the form of minimum environmental standards, based on a notion of sustainability that is constitutionally enforced.

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Publisher Info
Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 74 (1998)
Issue (Month): 1 ()
Pages: 1-15
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Handle: RePEc:uwp:landec:v:74:y:1998:i:1:p:1-15

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Web page: http://le.uwpress.org/

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Find related papers by JEL classification:
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
D90 - Microeconomics - - Intertemporal Choice and Growth - - - General

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  1. Antonio Rangel, 2000. "Forward and Backward Intergenerational Goods: A Theory of Intergenerational Exchange," NBER Working Papers 7518, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-11-22.

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