Maximizing minimal rights for sustainability: a viability approach
AbstractThis paper examines how the viability approach can be used to define sustainability goals. In an economic model with a non renewable natural resource, we define minimal rights to be guaranteed for all generations. These rights can include a minimal consumption (economic goal) and the preservation of natural resources (environmental goal). From a given economic state, it is possible to define the set of minimal rights that can be provided for all generation. To address the intergenerational equity issue, we propose to use a criterion that define the set of minimal rights that provide the maximal utility, in a Rawlsian perspective (Rawls, 1971). We describe how this criterion can be applied and computed, and discuss it with respect to usual criteria, including the maximin criterion, the Green Golden Rule, the Chichilnisky approach and the Mixed Bentham-Rawls criterion.
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Bibliographic InfoPaper provided by University of Paris West - Nanterre la Défense, EconomiX in its series EconomiX Working Papers with number 2007-20.
Length: 29 pages
Date of creation: 2007
Date of revision:
sustainability; intergenerational equity; minimal rights; viability;
Find related papers by JEL classification:
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-06-30 (All new papers)
- NEP-ENV-2007-06-30 (Environmental Economics)
- NEP-UPT-2007-06-30 (Utility Models & Prospect Theory)
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