Valuing the Future: Economic Theory and Sustainability

Передняя обложка
Columbia University Press, 1998 - Всего страниц: 226
0 Отзывы
Google не подтверждает отзывы, однако проверяет данные и удаляет недостоверную информацию.

With issues like global warming and the loss of biodiversity becoming increasingly important to policymakers and scientists worldwide, the issue of sustainability cannot be ignored as we move toward the twenty-first century.

Not surprisingly, the sustainable management of the biosphere has in recent years been the subject of much attention among ecologists, environmental engineers, and other members of the scientific community. Yet although these issues are clearly rooted in economic behavior and organization, the question of sustainability is not one that has been addressed directly by economists. Now, with Valuing the Future, economist Geoffrey Heal presents a coherent framework for understanding the earth's future from an economic perspective.

Heal's model begins with a reconciliation of the economist's and environmentalist's time horizon: in economics, discussions of "the long run" generally refer to a much shorter timeline than do those of the earth sciences. The book shows the benefits of viewing the environment as an economic asset that should be understood as a part of a nation's income and explains how this approach can lead to more conservative patterns of resource use.

Stepping beyond merely theoretical generalities, Valuing the Future offers a dynamic new blueprint for comprehending sustainability. Chapters provide complete mathematical templates for the valuation of a depletable stock and of renewable resources, the proper calculation of national income, and the conduct of cost-benefit analysis. It will be of great value to economic theorists, environmental economists and policymakers, providing a powerful new model for scientists concerned with environmental sustainability.

Результаты поиска по книге

Отзывы - Написать отзыв

Не удалось найти ни одного отзыва.

Содержание

What Is Sustainability?
1
11 History of Sustainability
5
12 Possible Formalizations
7
13 Limitations of Earlier Approaches
11
14 Discounted Utilitarianism
12
A Preliminary Definition
13
16 Valuing Environmental Assets
14
17 The Analytical Framework
20
Investment in a Backstop
115
81 The Model
117
82 Utilitarian Investment
118
822 Optimality When the Stock Is Exhausted
119
83 Solving the Problem Recursively
120
The Green Golden Rule
122
832 The Rawlsian Solution
123
834 Overtaking
125

18 Summary
21
110 Conclusions
24
1102 Valuation
25
The Classical Formulation
27
21 Declining Discount Rate
30
22 Conclusion
31
23 Hamiltonians and Adjoint Variables
32
Valuing a Depletable Stock
36
31 Corner Solutions
37
32 Optimal Paths
38
33 The Green Golden Rule
43
34 The Rawlsian Optimum
44
36 Summary
45
Renewable Resources
46
41 Stationary Solutions
48
42 Dynamic Behavior
50
43 The Green Golden Rule
52
44 Ecological Stability
53
45 The Rawlsian Solution
55
Alternatives to Utilitarianism
58
51 Formalizing Utilitarianism
60
52 Empirical Evidence
61
53 Logarithmic Discounting and the WeberFechner Law
62
54 Zero Discount Rate
63
55 Overtaking
65
56 Limiting Payoffs
68
57 Chichilniskys Criterion
69
571 Comparison with Overtaking
73
572 Constancy of Discount Rates
74
58 The Rawlsian Criterion
76
510 Final Comments
79
Depletion Revisited
81
61 Optimization with Chichilniskys Criterion
82
62 Conservation and the Chichilnisky Criterion
89
63 Differences from Utilitarian Optima
91
64 Overtaking
92
Renewable Resources Revisited
94
72 Declining Discount Rates
98
721 Examples
103
73 Time Consistency
104
731 Time Consistency and Chichilniskys Criterion
107
733 Is Consistency Desirable?
109
74 Overtaking
110
75 Equal Treatment over Finite Horizons
111
76 Summary
112
84 Conclusions
126
Exhaustibility and Accumulation
128
91 The Utilitarian Optimum
129
911 Stationary Solutions
131
912 Dynamics of the Utilitarian Optimum
132
92 The Green Golden Rule
135
93 The Chichilnisky Criterion
137
94 Conclusion
140
Capital and Renewable Resources
141
101 The Utilitarian Optimum
142
1012 Dynamics of the Utilitarian Solution
145
102 The Green Golden Rule
146
103 The Chichilnisky Criterion
150
104 Conclusions
152
Measuring National Income
155
112 Two Concepts of National Income
156
113 A General Model
158
1142 TimeVarying Discount Rates
162
115 The Linearized Hamiltonian
163
1151 Consumption and Hicksian National Income
167
1152 Hicksian Income and the Discount Rate
168
1162 Renewable Resources
171
117 Nonutilitarian Objectives
173
National Welfare
175
122 National Welfare and Resources
180
1221 National Welfare and Hicksian Income in the Hotelling Case
181
1222 Exhaustible Resources and National Welfare
182
2223 Renewable Resources and National Welfare
183
1224 National Welfare and Capital Accumulation
184
123 Chichilniskys Criterion
185
124 Sustainable Revenues and National Income
189
125 Summary
193
Project Evaluation
196
131 Exhaustible Resources
197
1311 Initial Shadow Prices
198
1312 Final Shadow Prices
201
132 Renewable Resources
202
133 Sustainable Net Benefits
204
134 Investing in a Backstop Technology
205
135 Conclusions
206
Appendix
208
A2 Existence of a Solution for the Renewable Resource Case
210
References
213
Index
224
Авторские права

Другие издания - Просмотреть все

Часто встречающиеся слова и выражения

Ссылки на эту книгу

Об авторе (1998)

Geoffrey Heal is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Graduate School of Business at Columbia University. A past president of the Association of Environmental and Resource Economists, he is the author of many scientific articles and thirteen books, including Economic Theory and Exhaustible Resources and Nature and the Marketplace.

Библиографические данные