| Автор | Bartolini, Stefano |
| Автор | Bonatti, Luigi |
| Дата выпуска | 2003 |
| dc.description | The expansion of private production erodes the quality of commonly owned assets, thereby forcing individuals to rely increasingly on private goods to satisfy their needs. In the face of this deterioration, households increase their work effort and accumulate more capital in order to buy more consumer goods both in the present and in the future. By so doing, each household contributes to an increase in production and thus has a detrimental—though negligible—impact on commonly owned assets. Hence, the economy converges to a long-run equilibrium level of production that is higher than the level associated with the Pareto-efficient path. |
| Издатель | Cambridge University Press |
| Тема | Common property |
| Тема | Defensive expenditure |
| Тема | Market failure |
| Тема | Undesirable growth |
| Тема | Environmental assets |
| Название | Undesirable growth in a model with capital accumulation and environmental assetsA special thank to L. Punzo and A. Leijonhufvud, who encouraged and discussed these ideas since their beginning. Thanks for useful comments also to G. Becattini, L. Bosco, E. Cresta, M. Dardi, V. Ferrante, A. Gay, D. Heymann, F. Luna, L. Marengo, G. Mondello, U. Pagano, R. Palma, M. Pugno, P. L. Sacco, A. Vercelli and to two anonymous referees. The usual disclaimer applies. |
| DOI | 10.1017/S1355770X03000020 |
| Electronic ISSN | 1469-4395 |
| Print ISSN | 1355-770X |
| Журнал | Environment and Development Economics |
| Том | 8 |
| Первая страница | 11 |
| Последняя страница | 30 |
| Аффилиация | Bartolini Stefano; Università di Siena |
| Аффилиация | Bonatti Luigi; Universita di Trento |
| Выпуск | 1 |
