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In 1987, the Brundtland Commission famously defined sustainable development as “development that meets the needs of the present without compromising the needs of the future”. This paper is concerned with translating this definition in the framework of the neoclassical one-sector model of...
Persistent link: https://www.econbiz.de/10011074464
The interdependency of socio-ecological systems and the increased reach of human activity have led to major political and scientific challenges in the governance of environmental resources. This chapter reviews the state of our knowledge on the matter. The chapter begins by discussing the...
Persistent link: https://www.econbiz.de/10010721350
Vulnerability–resilience indexes fail to grasp all dimensions of sustainability, whereas sustainable development has … gained momentum. We fill this gap with a hierarchical multimetric composite index (Net Vulnerability Resilience Index: NVRI … vulnerability and resilience are policy-responsive and that (ii) there is no determinism for a country to remain vulnerable or …
Persistent link: https://www.econbiz.de/10011228188
We prove the non-emptiness of the core of an NTU game satisfying a condition of payoff-dependent balancedness, based on transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff vectors satisfying this condition. The additional...
Persistent link: https://www.econbiz.de/10010905386
This paper reconsiders the theory of existence of efficient allocations and equilibria when consumption sets are unbounded below under the assumption that agents have incomplete preferences. Our model is motivated by an example in the theory of assets with short-selling where there is risk and...
Persistent link: https://www.econbiz.de/10010799311
We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, positive results on core-Walras equivalence were established in...
Persistent link: https://www.econbiz.de/10010706476
We are given a list of tasks Z and a population divided into several groups X j of equal size. Performing one task z requires constituting a team with exactly one member x j from every group. There is a cost (or reward) for participation: if type x j chooses task z, he receives p j (z);...
Persistent link: https://www.econbiz.de/10010706644
We study incentive-compatible labor contracts in the case where both individual productivity and subjective discount rate are unobservable by the rm. We rst show that unidimensional manifolds of agents group on the same contract. High , low agents may choose the same contract as low , high...
Persistent link: https://www.econbiz.de/10010706876
In this paper we prove the existence of general equilibrium with transaction costs generalizing Hahn's (Review of Economic Studies, 1973, 40, 449-461) model by introducing producers and nonconvexities (in particular we allow for increasing returns in transaction sets). We also recover any...
Persistent link: https://www.econbiz.de/10010707098
The overlapping expectations and the collective absence of arbitrage conditions introduced in the economic literature to insure existence of Pareto optima and equilibria with short-selling when investors have a single belief about future returns, is reconsidered. Investors use measures of risk....
Persistent link: https://www.econbiz.de/10010707106