Environmental Concern and Rational Production, Consumption and Rehabilitation
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.
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- 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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