A closed form solution to Stollery's global warming problem with temperature in utility
AbstractStollery (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.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 22406.
Date of creation: 29 Apr 2010
Date of revision:
essential nonrenewable resource; polluting economy; sustainable development; special function representation;
Find related papers by 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, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-08 (All new papers)
- NEP-ENE-2010-05-08 (Energy Economics)
- NEP-ENV-2010-05-08 (Environmental Economics)
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