Some Further Economics Of Easter Island: Adding Subsistence And Resource Conservation
We extend Brander-Taylor's model of development on Easter Island by adding a resource subsistence requirement to people's preferences, and a conservation incentive in the form of a revenue-neutral, ad valorem tax on resource consumption. Adding subsistence improves plausibility; makes overshoot and collapse of population more extreme, and the steady state less stable; and allows for the possibility that statue building and erection will suddenly stop, in line with the archaeological evidence. We explore a tax rate path which could have almost completely prevented overshoot, and conjecture that the overall strength of this path must rise when the subsistence level rises.
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- Koopmans, Tjalling C., 1975.
"Concepts of Optimality and Their Uses,"
Nobel Prize in Economics documents
1975-2, Nobel Prize Committee.
- Koopmans, Tjalling C, 1977. "Concepts of Optimality and Their Uses," American Economic Review, American Economic Association, vol. 67(3), pages 261-74, June.
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- Brander, James A & Taylor, M Scott, 1998. "The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use," American Economic Review, American Economic Association, vol. 88(1), pages 119-38, March.
- Steger, Thomas M., 2000. "Economic growth with subsistence consumption," Journal of Development Economics, Elsevier, vol. 62(2), pages 343-361, August.
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