Abstract
We show that the Suppes-Sen grading principle leads to stock-specific sustainability constraints in a class of resource models, provided that the resource is renewable or utility is derived directly from the resource stock. Decreasing the resource stock is not compatible with Suppes-Sen maximality, unless a smaller stock leads to higher natural growth.
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Asheim, G.B., Buchholz, W. (2005). Can Stock-Specific Sustainability Constraints be Justified?. In: Kant, S., Berry, R.A. (eds) Economics, Sustainability, and Natural Resources. Sustainability, Economics, and Natural Resources, vol 1. Springer, Dordrecht. https://doi.org/10.1007/1-4020-3518-7_8
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DOI: https://doi.org/10.1007/1-4020-3518-7_8
Publisher Name: Springer, Dordrecht
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