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| Author: | Martinet, V. |
| Title: | A characterization of sustainability with indicators |
| Journal: | Journal of Environmental Economics and Management
2011 : MAR, VOL. 61:2, p. 183-197 |
| Index terms: | sustainable development time consistency |
| Freeterms: | intergenerational equity indicators minimal rights |
| Language: | eng |
| Abstract: | This study introduces a criterion characterizing sustainability with indicators and thresholds acting as constraints. The thresholds are interpreted as minimal rights to be guaranteed to all generations, and defined sustainable trajectories as those satisfying all the constraints at all times. The new criterion is a "generalized" maximin criterion. The approach is applied to a simple production-consumption economy with non-renewable resources. Particularly, the resulting problem is time-inconsistent, and sustainability thresholds may be revised over time etc. |
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