We study a growth model with an environmental asset which is a source of utility and an input to consumption and production. The stock of this asset follows its own ecological dynamics, which are affected by economic activity. We study the implications of an approach to ranking sequences of...

This volume provides a rigorous and analytical perspective on the pressing issue of making economic progress consistent with environmental conservation. It proposes formal definitions of sustainability, embeds them in dynamic models and models of uncertainty, and explores the concepts and their...