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Maximizing minimal rights for sustainability: a viability approach

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  • Vincent Martinet

Abstract

This 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.

Suggested Citation

  • Vincent Martinet, 2007. "Maximizing minimal rights for sustainability: a viability approach," EconomiX Working Papers 2007-20, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2007-20
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    1. John C.V. Pezzey & Michael A. Toman, 2002. "Progress and problems in the economics of sustainability," Chapters, in: Tom Tietenberg & Henk Folmer (ed.), The International Yearbook of Environmental and Resource Economics 2002/2003, chapter 4, pages 165-232, Edward Elgar Publishing.
    2. Chichilnisky, Graciela, 1976. "Economic Development and Efficiency Criteria in the Satisfaction of Basic Needs," MPRA Paper 7980, University Library of Munich, Germany, revised 14 Mar 1977.
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    16. Graciela Chichilnisky, 1996. "An axiomatic approach to sustainable development," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(2), pages 231-257, April.
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    Cited by:

    1. Sesmero, Juan P. & Fulginiti, Lilyan E., 2008. "Conservation Needs Assessment: Sustainability with Substitution and Biased Technical Change," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6486, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    More about this item

    Keywords

    sustainability; intergenerational equity; minimal rights; viability;
    All these keywords.

    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, Innovation, 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

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