Fair intergenerational sharing of a natural resource
In this article, overlapping generations are extracting a natural resource over an inﬁnite future. We examine the fair allocation of resource and compensations among generations. Fairness is deﬁned by core lower bounds and aspiration upper bounds. The core lower bounds require that every coalition of generations obtains at least what it could achieve by itself. The aspiration upper bounds require that no coalition of generations enjoys a higher welfare than it would achieve if nobody else extracted the resource. We show that, upon existence, the allocation that satisﬁes the two fairness criteria is unique and assigns to each generation its marginal contribution to the preceding generation. Finally, we describe the dynamics of such an allocation.
(This abstract was borrowed from another version of this item.)
|Date of creation:||Sep 2009|
|Contact details of provider:|| Postal: manufacture des Tabacs, 21 allée de brienne, 31200 Toulouse|
Phone: (+33) 5 61 12 86 23
Web page: http://www.toulouse.inra.fr/lerna/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ambec, S. & Sprumont, Y., 2000.
"Sharing a River,"
00-06, Laval - Recherche en Energie.
- AMBEC, Steve & SPRUMONT, Yves, 2000. "Sharing a River," Cahiers de recherche 2000-08, Universite de Montreal, Departement de sciences economiques.
- Ambec, Stefan & Sprumont, Yves, 2000. "Sharing a River," Cahiers de recherche 0006, GREEN.
- Ambec, S. & Sprumont, Y., 2000. "Sharing a River," Cahiers de recherche 2000-08, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- R. M. Solow, 1973.
"Intergenerational Equity and Exhaustable Resources,"
103, Massachusetts Institute of Technology (MIT), Department of Economics.
- R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 29-45.
- AMBEC, Stefan & EHLERS, Lars, 2006.
"Sharing a River among Satiable Countries,"
Cahiers de recherche
07-2006, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- AMBEC, Stefan & EHLERS, Lars, 2006. "Sharing a River among Satiable Countries," Cahiers de recherche 2006-10, Universite de Montreal, Departement de sciences economiques.
- Ambec, S. & Ehlers, L., 2006. "Sharing a river among satiable countries," Working Papers 200605, Grenoble Applied Economics Laboratory (GAEL).
- Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
- Calvo, Guillermo A & Obstfeld, Maurice, 1988. "Optimal Time-Consistent Fiscal Policy with Finite Lifetimes," Econometrica, Econometric Society, vol. 56(2), pages 411-432, March.
- Moulin, H., 1989.
"Uniform Externalities: Two Axioms For Fair Allocation,"
UFAE and IAE Working Papers
117-89, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Moulin, Herve, 1990. "Uniform externalities : Two axioms for fair allocation," Journal of Public Economics, Elsevier, vol. 43(3), pages 305-326, December.
- Ambec, S., 2006. "Sharing a common resource with concave benefits," Working Papers 200601, Grenoble Applied Economics Laboratory (GAEL).
- Marini Giancarlo & Scaramozzino Pasquale, 1995. "Overlapping Generations and Environmental Control," Journal of Environmental Economics and Management, Elsevier, vol. 29(1), pages 64-77, July.
When requesting a correction, please mention this item's handle: RePEc:ler:wpaper:09.23.299. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maxime MARTY)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.