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Sustainability when capital management has stochastic consequences

机译:资本管理产生随机后果时的可持续性

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摘要

Sustainability is usually defined as a requirement of each generation to manage its stocks of man-made and natural capital such that the utility that it ensures itself can be shared by all future generations. Here we extend this definition to the case where capital management does not have deterministic consequences. A characterization is offered where the sustainability of one generation's behavior can be determined by comparing its utility with the utility of the succeeding generation, provided that the latter behaves in a sustainable manner. The properties of the definition are investigated and illustrated.
机译:可持续性通常被定义为管理每一代人为和自然资本存量的每一代的要求,以使它确保自身的效用可以被所有后代共享。在这里,我们将此定义扩展到资本管理不具有确定性后果的情况。提供了一种特征,其中可以通过将一代人的效用与后代的效用进行比较来确定一代人行为的可持续性,前提是后者的行为具有可持续性。对该定义的属性进行了研究和说明。

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  • 来源
    《Social Choice and Welfare》 |2002年第4期|921-940|共20页
  • 作者单位

    Department of Economics University of Oslo P.O. Box 1095 Blindern N-0317 Oslo Norway (e-mail: g.b.asheim@econ.uio.no);

    Centre for Development and the Environment University of Oslo P.O. Box 1116 Blindern N-0317 Oslo Norway (e-mail: k.a.brekke@sum.uio.no);

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