The main objective of this paper is to identify fuel substitution potential by estimating potential price induced energy substitution and by considering available technological options. We consider the impacts of CO2 taxation on reduction of emissions until 2020, assuming CO2 neutrality of...

This paper proposes a new tool to assess sustainability and make the concept of sustainable development operational. It considers its multi-dimensional structure combining the information deriving from a selection of relevant sustainability indicators belonging to economic, social and...

In this paper, we elaborate on an idea initially developed by Weitzman (1998) that justifies taking the lowest possible discount rate for far-distant future cash flows. His argument relies on the arbitrary assumption that when the future rate of return of capital (RRC) is uncertain, one should...

Equal treatment for the present and the future was required in two axioms for sustainable development introduced by the author. This article shows that the two axioms are equivalent to awareness of physical limits in the long run future. We prove that two optimization problems are equivalent :...

In this paper, we elaborate on an idea initially developed by Weitzman (1998) that justifies taking the lowest possible discount rate for far-distant future cash flows. His argument relies on the arbitrary assumption that when the future rate of return of capital (RRC) is uncertain, one should...

Equal treatment for the present and the future was required in two axioms introduced in the articles by Chichilnisky of the years 1996 and 1997. These articles provide a characterization of the decision criterion that satisfies the axioms and shows that the two axioms are equivalent to physical...

This paper sketches a re-conceptualisation of sustainable development (SD) on the basis of the capability approach (CA). The notion sustainable development was developed as a compromise in a political process and has been re-interpreted (some say: diluted) again and again in the last 20 years....

Economic globalization affects the environment and sustainable development in several ways and through various channels. The purpose of this paper is to review the key links between globalization and the environment. The paper intends to consider the major issues in multilateral economic...

Specializing in tourism is an option available to a number of less developed countries and regions. But is it a good option? To answer this question, we have compared the relative growth performance of 14 "tourism countries" within a sample of 143 countries, observed during the period 1980-95....

We are interested in three related questions: (1) How should accounting prices be estimated? (2) How should we evaluate policy change in an imperfect economy? (3) How can we check whether intergenerational well-being will be sustained along a projected economic programme? We do not presume that...