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Maladaptation and global indeterminacy

机译：不适应和全球不确定

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Abstract This article analyzes a general equilibrium growth model with overlapping generations and (production-induced) environmental degradation. Individuals react to environmental damages through mitigation or adaptation. In the former case, they reduce production and its environmental impact. In the latter, they do not tackle the causes of the problem but rather its consequences (i.e., the wellbeing loss due to environmental degradation) by increasing defensive expenditures. Despite its simplicity, the model can generate different long-term outcomes: convergence to a stationary state following a unique trajectory or local/global indeterminacy. In the last scenario, initial conditions (history) and individual expectations matter and the model can generate coordination failures and endogenous fluctuations. Results cast doubt on solutions to environmental problems relying on the role of individual behavior change or adaptation.
机译：摘要本文分析了具有重叠几代的一般均衡生长模型和（生产诱导的）环境退化。个人通过缓解或适应来对环境损害作出反应。在前一种情况下，他们减少了产量及其环境影响。在后者，他们通过增加防守支出，他们不会解决问题的原因，而是其后果（即，由于环境退化导致的福利损失）。尽管其简单性，模型可以产生不同的长期结果：在独特的轨迹或本地/全球不确定之后收敛到静止状态。在最后一个场景中，初始条件（历史）和个人期望和模型可以产生协调失败和内源波动。结果对依靠个人行为变革或适应作用的环境问题的解决方案令人疑问。

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