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Sustainability of an economy with an exhaustible resource: A viable control approach

  • Vincent Martinet

    ()

    (Economie Publique, INRA)

  • Luc Doyen

    (UMR 5173 MNHN - CNRS - UPMC, Muséum National d’Histoire Naturelle)

Avec cet article, les auteurs examinent les conditions de soutenabilité d'une économie "production-consommation" basée sur l'exploitation d'une ressource épuisable. Au lieu d'employer l'approche classique d'optimisation, ils s'intéressent aux interactions entre économie et environnement en étudiant la viabilité du système, définie par un ensemble de contraintes incluant une consommation minimale garantie, et une contrainte de préservation de la ressource. Ces contraintes devant être vérifiées à tout temps, ils se réfèrent à une approche Rawlsienne de l'équité intergénérationelle. En utilisant le concept mathématique de noyau de viabilité, qui permet d'étudier la consistence entre la dynamique économique et les contraintes, ils mettent en évidence les configurations technologiques et les décisions de consommation et d'investissement associés permettant une économie durable. Enfin, les auteurs soulignent la flexibilité des choix soutenables et montrent qu'ils ne sont pas réduits à des sentiers de consommation constante le long desquels la règle d'Hartwick est satisfaite. Des simulations numériques illustrent les résultats généraux.

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Paper provided by Institut National de la Recherche Agronomique, France in its series Working Papers with number 22177.

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Length: 17-39
Date of creation: 2007
Date of revision:
Publication status: Published in Resource and Energy Economics
Handle: RePEc:inr:wpaper:22177
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  1. Bene, C. & Doyen, L. & Gabay, D., 2001. "A viability analysis for a bio-economic model," Ecological Economics, Elsevier, vol. 36(3), pages 385-396, March.
  2. Howarth, Richard B., 1991. "Intertemporal equilibria and exhaustible resources: an overlapping generations approach," Ecological Economics, Elsevier, vol. 4(3), pages 237-252, December.
  3. Burton Peter S., 1993. "Intertemporal Preferences and Intergenerational Equity Considerations in Optimal Resource Harvesting," Journal of Environmental Economics and Management, Elsevier, vol. 24(2), pages 119-132, March.
  4. Bonneuil, Noel, 1994. "Capital Accumulation, Inertia of Consumption and Norms of Reproduction," Journal of Population Economics, Springer, vol. 7(1), pages 49-62.
  5. Howarth, Richard B., 1991. "Intergenerational competitive equilibria under technological uncertainty and an exhaustible resource constraint," Journal of Environmental Economics and Management, Elsevier, vol. 21(3), pages 225-243, November.
  6. Gerlagh, Reyer & Keyzer, Michiel A., 2003. "Efficiency of conservationist measures: an optimist viewpoint," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 310-333, September.
  7. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December.
  8. Daly, Herman E., 1990. "Toward some operational principles of sustainable development," Ecological Economics, Elsevier, vol. 2(1), pages 1-6, April.
  9. Chichilnisky, Graciela, 1995. "An axiomatic approach to sustainable development," MPRA Paper 8609, University Library of Munich, Germany.
  10. Olson, Lars J. & Knapp, Keith C., 1997. "Exhaustible Resource Allocation in an Overlapping Generations Economy," Journal of Environmental Economics and Management, Elsevier, vol. 32(3), pages 277-292, March.
  11. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
  12. Butterfield, David W., 2003. "Resource depletion under uncertainty: implications for mine depreciation, Hartwick's Rule and national accounting," Resource and Energy Economics, Elsevier, vol. 25(3), pages 219-238, August.
  13. Chichilnisky, Graciela & Heal, Geoffrey & Beltratti, Andrea, 1995. "The Green Golden Rule," Economics Letters, Elsevier, vol. 49(2), pages 175-179, August.
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