On the economically optimal exploitation of a renewable resource: the case of a convex environment and a convex return function

Article Abstract:

A time-discrete one-dimensional model of optimal resource exploitation considers that the fact whether an extinction or a conservation policy is optimal is detected by the value of the product of the discount factor and the growth factor. The model incorporates a reproduction function that is concave and a net benefit function that shows nonconcavity. In a supramarginal condition, the long term property of an optimal program is uncontrolled by the initial shock but will depend on the flexibility of the immediate benefit function.

Resource allocation

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Simple pareto-improving policies

Article Abstract:

Some of the views of P. Diamond and J. Mirrlees regarding Pareto-improvement policies invite comment. The policies do not need data about individual properties and support an equilibrium that is production inefficient. The Pareto improvements were determined by optimizing a weighted Leontief social welfare function. However, the Pareto improvements can also be obtained by agent properties instead of using knowledge on the aggregate excess demand function.

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Manipulation through bribes

Article Abstract:

Allocation rules are assessed to help analyze the impact of bribery and possibility of bribe-proof rules.

Economic aspects, Bribery

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