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We present a simple growth model which has two original features: the strategic context considered, which is an evolutionary game, and the growth mechanism described, in which growth is caused by negative externalities. The emphasis in this growth mechanism is evidently different from that...
Persistent link: https://www.econbiz.de/10005836025
In modern societies individuals often try to alleviate their personal damages from environmental degradation by increasing their consumption of private goods. Although this “self-protective” behavior is very frequent in industrial economies, insufficient attention has been paid to its...
Persistent link: https://www.econbiz.de/10008468144
We analyze growth dynamics in an economy where a private good can be consumed as a substitute for a free access environmental good. In this context we show that environmental deterioration may be an engine of economic growth. To protect themselves against environmental deterioration, economic...
Persistent link: https://www.econbiz.de/10005619838
The purpose of the present paper is to highlight some features of global dynamics of the two-sector growth model with accumulation of human and physical capital analyzed by Brito, P. and Venditti, A. (2010). In particular, we explore two cases where the Brito-Venditti system admits two balanced...
Persistent link: https://www.econbiz.de/10011113576