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Sustainability: Dynamics and Uncertainty

  • Editors
  • Graciela Chichilnisky
  • Geoffrey Heal
  • Alessandro Vercelli

Table of contents

  1. Front Matter
    Pages i-xvi
  2. Overview

    1. Front Matter
      Pages 1-1
    2. Geoffrey Heal
      Pages 3-22
    3. Graciela Chichilnisky, Geoffrey Heal
      Pages 23-46
  3. Dynamics

    1. Front Matter
      Pages 47-47
    2. Andrea Beltratti, Graciela Chichilnisky, Geoffrey Heal
      Pages 49-76
    3. Ralph Abraham, Graciela Chichilnisky, Ron Record
      Pages 77-107
    4. Graciela Chichilnisky, Massimo Di Matteo
      Pages 109-127
    5. Guido Cazzavillan, Iganzio Musu
      Pages 129-138
    6. Giancarlo Marini, Pasquale Scaramozzino
      Pages 139-150
    7. Marco P. Tucci
      Pages 151-169
  4. Uncertainty

    1. Front Matter
      Pages 189-189
    2. Alessandro Vercelli
      Pages 191-221
    3. Marcelo Basili, Alessandro Vercelli
      Pages 223-242
    4. Loredana Torsello, Alessandro Vercelli
      Pages 243-255
    5. Andrea Beltratti, Graciela Chichilnisky, Geoffrey Heal
      Pages 257-275
    6. Graciela Chichilnisky, Geoffrey Heal
      Pages 277-294
    7. Andrea Beltratti
      Pages 319-334
  5. Back Matter
    Pages 335-335

About this book

Introduction

of ecological (also biological) variables b which interact in their dynamic t evolution: det dbt dt = f (et, bt)' dt = 9 (et, bt)· Among the solution paths to this interaction between economic and ecologi­ cal variables, we look for those which are sustainable. Sustainable paths are typically those along which the values of certain key stocks are always pos­ itive, these key stocks being important environmental resources. The types of paths on which certain variables can be positive forever include station­ ary solutions with appropriate positivity conditions, or limit cycles or chaotic attractors satisfying the same positivity conditions. These paths, and the paths which approach them, constitute the set of sustainable paths. From amongst these we have to choose one or more which are in some sense the best. Note that rather than imposing positivity of certain stocks in the long run as a condition for sustainability, we would prefer to derive this as a characteristic of optimal solutions from more fundamental judgements about the valuation of stocks and flows: this is the route pursued by the papers in this volume. The introductory paper by Heal in Section I reviews these matters in gen­ eral terms, not going into technical details: it discusses the precedents for a concept of sustainability in welfare economics, and reviews alternative opti­ mality concepts and their connection to sustainability.

Keywords

Climate Change Conservation Sustainable Growth climate development environment environmental policy sustainability

Bibliographic information

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