Overview
- Editors:
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Graciela Chichilnisky
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Geoffrey Heal
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Alessandro Vercelli
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Table of contents (16 chapters)
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Overview
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- Graciela Chichilnisky, Geoffrey Heal
Pages 23-46
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Dynamics
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- Andrea Beltratti, Graciela Chichilnisky, Geoffrey Heal
Pages 49-76
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- Ralph Abraham, Graciela Chichilnisky, Ron Record
Pages 77-107
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- Graciela Chichilnisky, Massimo Di Matteo
Pages 109-127
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- Guido Cazzavillan, Iganzio Musu
Pages 129-138
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- Giancarlo Marini, Pasquale Scaramozzino
Pages 139-150
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Uncertainty
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Front Matter
Pages 189-189
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- Marcelo Basili, Alessandro Vercelli
Pages 223-242
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- Loredana Torsello, Alessandro Vercelli
Pages 243-255
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- Andrea Beltratti, Graciela Chichilnisky, Geoffrey Heal
Pages 257-275
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- Graciela Chichilnisky, Geoffrey Heal
Pages 277-294
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About this book
of ecological (also biological) variables b which interact in their dynamic t evolution: det dbt dt = f (et, bt)' dt = 9 (et, bt)ยท Among the solution paths to this interaction between economic and ecologiยญ cal variables, we look for those which are sustainable. Sustainable paths are typically those along which the values of certain key stocks are always posยญ itive, these key stocks being important environmental resources. The types of paths on which certain variables can be positive forever include stationยญ ary solutions with appropriate positivity conditions, or limit cycles or chaotic attractors satisfying the same positivity conditions. These paths, and the paths which approach them, constitute the set of sustainable paths. From amongst these we have to choose one or more which are in some sense the best. Note that rather than imposing positivity of certain stocks in the long run as a condition for sustainability, we would prefer to derive this as a characteristic of optimal solutions from more fundamental judgements about the valuation of stocks and flows: this is the route pursued by the papers in this volume. The introductory paper by Heal in Section I reviews these matters in genยญ eral terms, not going into technical details: it discusses the precedents for a concept of sustainability in welfare economics, and reviews alternative optiยญ mality concepts and their connection to sustainability.
Reviews
`Overall, this is an important volume. ... a fascinating collection of essays which have strong and coherent themes running through them. The whole volume is to be highly recommended.'
Journal of Economics, 68:2 (1998)
