Intertemporal preferences and intergenerational equity considerations in optimal resource harvesting

Article Abstract:

Optimal resource harvesting is reassessed on the basis of a distinction between intertemporal personal discount rates and generational discount rates. Intertemporal discount rates reflect individuals' rate of time preference while generational discount rates refer to considerations of equity for future generations. The discount rates are shown to partially moderate optimal harvesting decisions and the optimal distribution of benefits at any given period.

Analysis, Harvesting, Discount rates, Nonrenewable natural resources, Nonrenewable resources

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Economics of antibiotic resistance: a theory of optimal use

Article Abstract:

Decreasing effectiveness of antibiotics in treating infections, as a result of bacterial resistance, is studied. An economic model, in which antibiotic effectiveness is a nonrenewable resource and antibiotic use is controlled and optimized, is presented.

Research, Models, Antibiotics, Drug resistance in microorganisms, Microbial drug resistance, Epidemiological research, Cross sectional studies

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Optimal Quasi-Market Choice in the Presence of Pollution Externalities

Article Abstract:

Economically efficient pollution levels can be achieved through a program with incentives for entry and exit. Damages from emissions are irrelevant if the best diffusion-dispersion model is utilized. The program may generate substantial revenues.

Industrial efficiency, Economic efficiency, Pollution

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