Sustainability as intergenerational fairness: Efficiency, uncertainty, and numerical methods Academic Article

abstract

• AbstractThis paper presents an economic model of sustainability defined as intergenerational fairness. Assuming that intergenerational fairness is an obligation of each generation, a recursive optimization problem is obtained. The problem has the advantage that uncertainty can readily be incorporated in the model and it can be solved numerically for a wide range of specifications. The possibility of tradeoffs between efficiency and sustainability are discussed. Under plausible conditions, it is shown that a sustainability obligation is met only if there is the expectation of economic growth.

authors

• Woodward, Richard

published proceedings

• AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS

author list (cited authors)

• Woodward, R. T.

citation count

• 21

complete list of authors

• Woodward, RT

publication date

• August 2000

publisher

• Wiley  Publisher

keywords

• Dynamic Programming
• Intergenerational Equity
• Numerical Methods
• Sustainability
• Uncertainty

Digital Object Identifier (DOI)

• 10.1111/0002-9092.00048

start page

• 581

end page

• 593

volume

• 82

issue

• 3

URL

• http://dx.doi.org/10.1111/0002-9092.00048

user-defined tag

• 8 Decent Work and Economic Growth