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Book synopsis

This monograph provides a concise introduction to the overlapping generations approach to the intertemporal economics of renewable natural resources. In contrast to the dominant infinitely-lived agent (ILA) approach it acknowledges that natural resources typically outlive the individuals who use them. Finite lifetimes, generations overlap and competing natural and man-made capital facilitate long-run intergenerational inefficiency and inequity (unsustainability) of market allocations. While avoiding any presumption of either doomsday or a golden age, the book investigates the structural and institutional preconditions needed to ensure that renewable resources are used efficiently and equitably across generations. The primary aim of this book is to provide an easy-to-follow guide to the analytically much more demanding journal literature. This is achieved by using the same model type throughout and by adhering to functional specifications allowing for explicit equilibrium solutions.

Book details

Book category Books in English Economics, finance, business & management Economics Environmental economics

• Full title: Intertemporal Resource Economics
• Subtitle: An Introduction to the Overlapping Generations Approach
• Author: Karl Farmer, Birgit Bednar-Friedl
• Language: English
• Binding: Hardback
• Number of pages: 173
• EAN: 9783642132285
• ISBN: 3642132286
• ID: 01655904
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 970 g
• Dimensions: 235 × 155 × 20 mm
• Date of publishing: 16. July 2010

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