Growth versus environment in dynamic models of capital accumulation
In this paper, we study the economic implications of the trade off between growth and environment in the context of dynamic models of capital accumulation. The collective solution is formulated in terms of dynamic optimization of the central planner, and the decentralized solution is formulated in t...
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| Format: | Article |
| Language: | English |
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Wiley
2002-01-01
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| Series: | Discrete Dynamics in Nature and Society |
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| Online Access: | http://dx.doi.org/10.1080/1026022021000000266 |
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| _version_ | 1832562560177537024 |
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| author | Toichiro Asada |
| author_facet | Toichiro Asada |
| author_sort | Toichiro Asada |
| collection | DOAJ |
| description | In this paper, we study the economic implications of the trade off between growth and environment in the context of dynamic models of capital accumulation. The collective solution is formulated in terms of dynamic optimization of the central planner, and the decentralized solution is formulated in terms of differential game between workers and capitalists. We compare the economic properties of two solutions. |
| format | Article |
| id | doaj-art-bdca5c35756d489381037e31afacdd87 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2002-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-bdca5c35756d489381037e31afacdd872025-02-03T01:22:20ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2002-01-017210110910.1080/1026022021000000266Growth versus environment in dynamic models of capital accumulationToichiro Asada0Faculty of Economics, Chuo University, 742-1 Higashinakano, Hachioji, Tokyo 192-0393, JapanIn this paper, we study the economic implications of the trade off between growth and environment in the context of dynamic models of capital accumulation. The collective solution is formulated in terms of dynamic optimization of the central planner, and the decentralized solution is formulated in terms of differential game between workers and capitalists. We compare the economic properties of two solutions.http://dx.doi.org/10.1080/1026022021000000266Growth; Environment; Capital accumulation; Dynamic optimization; Differential game; Open loop Nash solution; Feedback Nash solution. |
| spellingShingle | Toichiro Asada Growth versus environment in dynamic models of capital accumulation Discrete Dynamics in Nature and Society Growth; Environment; Capital accumulation; Dynamic optimization; Differential game; Open loop Nash solution; Feedback Nash solution. |
| title | Growth versus environment in dynamic models of capital accumulation |
| title_full | Growth versus environment in dynamic models of capital accumulation |
| title_fullStr | Growth versus environment in dynamic models of capital accumulation |
| title_full_unstemmed | Growth versus environment in dynamic models of capital accumulation |
| title_short | Growth versus environment in dynamic models of capital accumulation |
| title_sort | growth versus environment in dynamic models of capital accumulation |
| topic | Growth; Environment; Capital accumulation; Dynamic optimization; Differential game; Open loop Nash solution; Feedback Nash solution. |
| url | http://dx.doi.org/10.1080/1026022021000000266 |
| work_keys_str_mv | AT toichiroasada growthversusenvironmentindynamicmodelsofcapitalaccumulation |