Intertemporal Resource Economics

An Introduction to the Overlapping Generations Approach

Authors: Farmer, Karl, Bednar-Friedl, Birgit

  • First monograph (advanced text book) using the overlapping generations approach to the economics of renewable natural resources
  • Clarifies the notion of intergenerational efficiency and applies it to intertemporal equilibria of market economies¬†
  • Enables the reader to derive explicit solutions for intertemporal general equilibrium with renewable resources
  • Introduces harvest costs in general equilibrium models
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eBook $109.00
price for USA (gross)
  • ISBN 978-3-642-13229-2
  • Digitally watermarked, DRM-free
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  • Immediate eBook download after purchase
Hardcover $139.00
price for USA
  • ISBN 978-3-642-13228-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $139.00
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  • ISBN 978-3-642-43682-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This monograph provides a concise introduction to the overlapping generations approach to the intertemporal economics of renewable natural resources. In contrast to the dominant infinitely-lived agent (ILA) approach it acknowledges that natural resources typically outlive the individuals who use them. Finite lifetimes, generations overlap and competing natural and man-made capital facilitate long-run intergenerational inefficiency and inequity (unsustainability) of market allocations. While avoiding any presumption of either doomsday or a golden age, the book investigates the structural and institutional preconditions needed to ensure that renewable resources are used efficiently and equitably across generations. The primary aim of this book is to provide an easy-to-follow guide to the analytically much more demanding journal literature. This is achieved by using the same model type throughout the book and by adhering to functional specifications that allow for explicit equilibrium solutions.

About the authors

Professor Dr. Karl Farmer, Department Chair Karl-Franzens-University, Graz, AustriaDr. Birgit Bednar-Friedl, Researcher, Wegener Center for Climate and Global Change, Karl-Franzens-University, Graz, Austria

Table of contents (11 chapters)

  • Introduction

    Farmer, Karl (et al.)

    Pages 3-18

  • Economic Growth and Natural Resources

    Farmer, Karl (et al.)

    Pages 19-29

  • Intergenerational Efficiency in Log-linear Cobb-Douglas OLG Models

    Farmer, Karl (et al.)

    Pages 33-43

  • Intertemporal Market Equilibrium and Short-Run Intergenerational Efficiency

    Farmer, Karl (et al.)

    Pages 45-55

  • Steady-State Market Equilibrium, Long-Run Intergenerational Efficiency, and Optimality

    Farmer, Karl (et al.)

    Pages 57-72

Buy this book

eBook $109.00
price for USA (gross)
  • ISBN 978-3-642-13229-2
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $139.00
price for USA
  • ISBN 978-3-642-13228-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $139.00
price for USA
  • ISBN 978-3-642-43682-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Intertemporal Resource Economics
Book Subtitle
An Introduction to the Overlapping Generations Approach
Authors
Copyright
2010
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag GmbH Berlin Heidelberg
eBook ISBN
978-3-642-13229-2
DOI
10.1007/978-3-642-13229-2
Hardcover ISBN
978-3-642-13228-5
Softcover ISBN
978-3-642-43682-6
Edition Number
1
Number of Pages
X, 173
Topics