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Environmental Concern and Rational Production, Consumption and Rehabilitation

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Abstract

Utility from consumption might be spoiled by the degradation of the environment. The incorporation of a direct dependency of utility on the state of the environment through environmental concern and the incorporation of the effects of production pollution and rehabilitative investment on the environment into a lifetime utility maximization model imply that a minimal degree of impatience is necessary for an interior steady state to exist. This steady state is unique, approachable along a path with damped oscillations of consumption and rehabilitative investment, and characterized by a larger production than in the steady state without environmental concern.

Suggested Citation

  • Levy, Amnon, 2008. "Environmental Concern and Rational Production, Consumption and Rehabilitation," Economics Working Papers wp08-10, School of Economics, University of Wollongong, NSW, Australia.
  • Handle: RePEc:uow:depec1:wp08-10
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    File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow045913.pdf
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    References listed on IDEAS

    as
    1. Axel Franzen, 2003. "Environmental Attitudes in International Comparison: An Analysis of the ISSP Surveys 1993 and 2000," Social Science Quarterly, Southwestern Social Science Association, vol. 84(2), pages 297-308.
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    Keywords

    Consumption; environmental investment; golden rule;

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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