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A closed form solution to Stollery's global warming problem with temperature in utility

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  • Bazhanov, Andrei

Abstract

Stollery (1998) studied a polluting oil extracting economy governed by the constant utility criterion. The pollution caused the growth of temperature, negatively affecting production and utility. Stollery provided a closed form solution for the case with the Cobb-Douglas production function and temperature affecting only production. This paper offers a closed form solution to a non-trivial example of this economy with utility affected by temperature.

Suggested Citation

  • Bazhanov, Andrei, 2010. "A closed form solution to Stollery's global warming problem with temperature in utility," MPRA Paper 22406, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:22406
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    References listed on IDEAS

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    More about this item

    Keywords

    essential nonrenewable resource; polluting economy; sustainable development; special function representation;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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