Abstract
We consider here optimal use patterns for renewable resources. Many important resources are in this category: obvious ones are fisheries and forests. Soils, clean water, landscapes, and the capacities of ecosystems to assimilate and degrade wastes are other less obvious examples.1 All of these have the capacity to renew themselves, but in addition all can be overused to the point where they are irreversibly damaged. Picking a time-path for the use of such resources is clearly important: indeed, it seems to lie at the heart of any concept of sustainable economic management.
This paper was draws heavily on earlier research by one or more of the three authors, namely Beltratti, Chichilnisky and Heal [1-3], Chichilnisky [7, 8], and in particular many of the results here were presented in Heal [18].
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References
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Beltratti, A., Chichilnisky, G., Heal, G. (1998). Sustainable Use of Renewable Resources. In: Chichilnisky, G., Heal, G., Vercelli, A. (eds) Sustainability: Dynamics and Uncertainty. Fondazione Eni Enrico Mattei (FEEM) Series on Economics, Energy and Environment, vol 9. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-4892-4_3
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DOI: https://doi.org/10.1007/978-94-011-4892-4_3
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