Tian, Huilan; Cairns, Robert D. - Australian Agricultural and Resource Economics Society … - 2006
The dynamics of a population and a resource are investigated in a maximin model based on Brander and Taylor …’s stylization of Easter Island, in order to consider the sustainability of the society represented. There are continua of both … regular and non-regular maximin solutions, the type depending on the initial conditions. A non-regular maximin steady state …