Growth versus environment in dynamic models of capital accumulation. Issue 2 (2002)

• Record Type: Journal Article
• Authors: Asada, Toichiro
• Is Part Of: Discrete dynamics in nature and society. Volume 7:Issue 2(2002)
• Page Start: 101
• Page End: 109
• Publication Date: 2002
• Subjects: Growth; Environment; Capital accumulation; Dynamic optimization; Differential game; Open loop Nash solution; Feedback Nash solution; System analysis -- Periodicals; Dynamics -- Periodicals; Chaotic behavior in systems -- Periodicals; Differentiable dynamical systems -- Periodicals; 003.05
• DOI: 10.1080/1026022021000000266
• Languages: English
• ISSNs: 1026-0226

Abstract

Abstract : 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.