This paper studies the restrictions on consumption, portfolio choice, and social discounting implied by a sustainability constraint, that utility should not be expected to decline over time, in an economy with risky investment opportunities. The sustainability constraint does not distort...

Economics of Ecological Resources presents new or recently published work on ecological economies, sustainability, poverty, resource degradation and decision-making under uncertainty. The book explores the allocation of resources in jointly determined ecological-economic systems. An introductory...

We investigate the fundamental determinants of sustainability in general equilibrium. We adopt a definition of sustainability that requires that the welfare of future generations is not expected to decrease on average. We then use a stochastic growth model to explore the conditions under which...

For more than thirty years, scholars have investigated the connection between corporate sustainability and financial performance. In 2016, Khan, Serafeim, and Yoon published what appeared to be a major breakthrough in this quest. They reported that guidance from the Sustainability Accounting...