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Fair Intergenerational Sharing of a Natural Resource

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  • Hippolyte D'Albis

    ()
    (LERNA - Economie des Ressources Naturelles - INRA : UR1081 - CEA : DPG - Université des Sciences Sociales - Toulouse I, TSE - Toulouse School of Economics - Toulouse School of Economics)

  • Stefan Ambec

    (LERNA - Economie des Ressources Naturelles - INRA : UR1081 - CEA : DPG - Université des Sciences Sociales - Toulouse I, TSE - Toulouse School of Economics - Toulouse School of Economics)

Abstract

In 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 Info

Paper provided by HAL in its series Post-Print with number hal-00630440.

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Date of creation: Mar 2010
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Publication status: Published, Mathematical Social Sciences, 2010, 59, 2, 170-183
Handle: RePEc:hal:journl:hal-00630440

Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00630440/en/
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Related research

Keywords: Natural Resources; Sustainable; Core; Fairness; Overlapping generations;

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References

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  1. Ambec, S. & Sprumont, Y., 2000. "Sharing a River," Papers 00-06, Laval - Recherche en Energie.
  2. AMBEC, Stefan & EHLERS, Lars, 2006. "Sharing a River among Satiable Countries," Cahiers de recherche 07-2006, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  3. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
  4. Moulin, Herve, 1990. "Uniform externalities : Two axioms for fair allocation," Journal of Public Economics, Elsevier, vol. 43(3), pages 305-326, December.
  5. Ambec, S., 2006. "Sharing a common resource with concave benefits," Working Papers 200601, Grenoble Applied Economics Laboratory (GAEL).
  6. Marini Giancarlo & Scaramozzino Pasquale, 1995. "Overlapping Generations and Environmental Control," Journal of Environmental Economics and Management, Elsevier, vol. 29(1), pages 64-77, July.
  7. Calvo, Guillermo A & Obstfeld, Maurice, 1988. "Optimal Time-Consistent Fiscal Policy with Finite Lifetimes," Econometrica, Econometric Society, vol. 56(2), pages 411-32, March.
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  1. 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
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Cited by:
  1. Beard, Rodney, 2011. "The river sharing problem: A review of the technical literature for policy economists," MPRA Paper 34382, University Library of Munich, Germany.
  2. 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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