Emission-Photosynthesis Imbalance and Climate Change:Forest Land under Intensified Uncertainty and Expected Utility Maximization
This paper introduces photosynthesis into the motion-equation of the atmospheric stock of carbon-dioxide as a counterpart endogenous factor to emissions of this principal greenhouse gas from lands occupied by humans. By doing so, the paper links the stock of atmospheric carbon-dioxide, hence climate-change and uncertainty, to the allocation of usable land to humans and forest. The public planners can control this allocation and, consequently, the atmospheric stock of carbon-dioxide, climate-change and future usable land by setting land-rates in accordance with use. The analysis considers two types of land-use for expected utility maximizing humans and derives the effects of the land-rates and photosynthesis’ efficiency on the size of the forest.
|Date of creation:||2011|
|Date of revision:|
|Contact details of provider:|| Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia|
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