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Fair intergenerational sharing of a natural resource

  • d'ALBIS Hippolyte
  • AMBEC Stefan

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.

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File URL: http://www2.toulouse.inra.fr/lerna/travaux/cahiers2009/09.23.299.pdf
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Paper provided by LERNA, University of Toulouse in its series LERNA Working Papers with number 09.23.299.

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Date of creation: Sep 2009
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Handle: RePEc:ler:wpaper:09.23.299
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  1. Ambec, Stefan & Sprumont, Yves, 2002. "Sharing a River," Journal of Economic Theory, Elsevier, vol. 107(2), pages 453-462, December.
  2. Ambec, S. & Ehlers, L., 2006. "Sharing a river among satiable countries," Working Papers 200605, Grenoble Applied Economics Laboratory (GAEL).
  3. Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2007. "Ordering infinite utility streams," Journal of Economic Theory, Elsevier, vol. 135(1), pages 579-589, July.
  4. Moulin, Herve, 1990. "Uniform externalities : Two axioms for fair allocation," Journal of Public Economics, Elsevier, vol. 43(3), pages 305-326, December.
  5. Marini Giancarlo & Scaramozzino Pasquale, 1995. "Overlapping Generations and Environmental Control," Journal of Environmental Economics and Management, Elsevier, vol. 29(1), pages 64-77, July.
  6. Ambec, S., 2006. "Sharing a common resource with concave benefits," Working Papers 200601, Grenoble Applied Economics Laboratory (GAEL).
  7. Calvo, Guillermo A & Obstfeld, Maurice, 1988. "Optimal Time-Consistent Fiscal Policy with Finite Lifetimes," Econometrica, Econometric Society, vol. 56(2), pages 411-32, March.
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