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Please use this identifier to cite or link to this item: http://hdl.handle.net/2237/10720

Title: Sustainability Constraint and the Equitable Intergenerational Allocation of an Exhaustible Resource
Authors: CAI, Dapeng
蔡, 大鵬
Issue Date: 30-Jun-2003
Publisher: 名古屋大学経済学会
Citation: 経済科学. v.51, n.1, 2003, p.129-147
Abstract: Inadequate attention has been given to equity considerations concerning the intergenerational allocation of an exhaustible resource. Existing literature focuses primarily on intertemporal allocative efficiency and considers exclusively the welfare of the current generation. However, this efficiency-oriented approach generally leads to efficient, yet 'beggar-thy-progeny' outcomes. In this paper we propose a new approach that bluntly addresses the intergenerational equity concerns. We argue that a sustainability constraint, which specifies both the needs and obligations of each generation, has to be integrated into the discussion. We demonstrate how to impose such a constraint to discriminate a sustainable path, or paths, according to particular social objectives. We also compare the tradeoffs between the gains (levels of intergenerational equity achieved) and sacrifices (amounts of intergenerational transfers made) of various policy proposals.
URI: http://hdl.handle.net/2237/10720
ISSN: 0022-9725
selfDOI: 10.18999/ecos.51.1.129
Appears in Collections:経済科学 (The Economic Science)

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