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Sustainability of an Economy Relying on Two Reproducible Assets

Cairns, Robert D.; Del Campo, Stellio; Martinet, Vincent - 2017

sustainability objective. As a first step toward the derivation of such shadow values for a maximin objective, this paper studies an … substitutability and perfect complementarity. The degree of substitutability has strong effects on the maximin solution, affecting the …

Persistent link: https://www.econbiz.de/10011615869

Bargaining with Intertemporal Maximin Payoffs

Martinet, Vincent; Gajardo, Pedro; De Lara, Michel - 2019

We frame sustainability problems as bargaining problems among stakeholders who have to agree on a common development path. For infinite alternatives, the set of feasible payoffs is unknown, limiting the possibility to apply classical bargaining theory and mechanisms. We define a framework...

Persistent link: https://www.econbiz.de/10012018162

An Environmental-Economic Measure of Sustainable Development

Cairns, Robert D.; Martinet, Vincent - 2013

context and in two canonical, stylized economies. We argue that the maximin value of utility measures what is sustainable and … provides the limit to growth. Maximin value is interpreted as a dynamic environmental-economic carrying capacity and current … utility as an environmental-economic footprint. The time derivative of maximin value is interpreted as net investment in …

Persistent link: https://www.econbiz.de/10010318822

Characterizing the sustainability problem in an exhaustible resource model

Mitra, Tapan; Asheim, Geir B.; Buchholz, Wolfgang; … - 2012

byproduct we show general existence of a maximin optimal path under weaker conditions that those employed in previous work. Our …

Persistent link: https://www.econbiz.de/10010281450

Intragenerational Inequality Aversion and Intergenerational Equity

Cairns, Robert D.; Del Campo, Stellio; Martinet, Vincent - 2021

We study the interplay between intragenerational and intergenerational equity in an economy with two countries producing and consuming from national capital stocks. We characterize the sustainable development path that a social planner would implement to achieve intertemporal egalitarianism. If...

Persistent link: https://www.econbiz.de/10012582004

Flexicurity in Belgium : a proposal based on economic principles

Cockx, Bart Leo Wim; van der Linden, Bruno - 2009

The current unemployment insurance and employment protection legislation were set up in an environment in which relationships between workers and firms were typically long-lasting and stable. The increasing globalisation of the economy and the rapid technological and organisational changes...

Persistent link: https://www.econbiz.de/10010276983

Optimal Accuracy of Unbiased Tullock Contests with Two Heterogeneous Players

Sahm, Marco - 2022

I characterize the optimal accuracy level r of an unbiased Tullock contest between two players with heterogeneous prize valuations. The designer maximizes the winning probability of the strong player or the winner's expected valuation by choosing a contest with an all-pay auction equilibrium (r...

Persistent link: https://www.econbiz.de/10013177635

Efficiency and Environmental Impacts of Electricity Restructuring on Coal-Fired Power Plants

Chan, H. Ron; Fell, Harrison; Lange, Ian A.; Li, Shanjun - 2013

We investigate the impacts of electricity market restructuring on fuel efficiency, utilization and, new to this area … without. Our analysis finds that restructuring led to: (1) a two percent improvement in fuel efficiency for IOs, (2) a ten …

Persistent link: https://www.econbiz.de/10010292700

To Pool or not to Pool: Revisited

Pesaran, M. Hashem; Zhou, Qiankun - 2015

This paper provides a new comparative analysis of pooled least squares and fixed effects estimators of the slope coefficients in the case of panel data models when the time dimension (T) is fixed while the cross section dimension (N) is allowed to increase without bounds. The individual effects...

Persistent link: https://www.econbiz.de/10011307081

Efficiency and Labor Market Dynamics in a Model of Labor Selection

Chugh, Sanjay K.; Merkl, Christian - 2015

This paper characterizes efficient labor-market allocations in a labor selection model. The model’s crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...

Persistent link: https://www.econbiz.de/10011307140