This paper explores the natural resource consumption behavior of a competitively determined economy relative to a socially planned benchmark when agents are characterized as having finite lifespans which overlap. A general equilibrium model of a production economy which uses inputs from a finite...

This paper explores the natural resource consumption behavior of a competitively determined economy relative to a socially planned benchmark when agents are characterized as having finite lifespans which overlap. A general equilibrium model of a production economy which uses inputs from a finite...