Environmental degradation and indeterminacy of equilibrium selection

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F21%3A10248164" target="_blank" >RIV/61989100:27510/21:10248164 - isvavai.cz</a>

Result on the web

<a href="https://www.aimsciences.org/article/doi/10.3934/dcdsb.2021179" target="_blank" >https://www.aimsciences.org/article/doi/10.3934/dcdsb.2021179</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3934/DCDSB.2021179" target="_blank" >10.3934/DCDSB.2021179</a>

Result language

angličtina

Original language name

Environmental degradation and indeterminacy of equilibrium selection

Original language description

This paper analyzes an intertemporal optimization problem in which agents derive utility from three goods: leisure, a public environmental good and the consumption of a produced good. The global analysis of the dynamic system generated by the optimization problem shows that global indeterminacy may arise: given the initial values of the state variables, the economy may converge to different steady states, by choosing different initial values of the control variable. (C) 2021 American Institute of Mathematical Sciences. All rights reserved.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

DISCRETE AND CONTINUOUS DYNAMICAL SYSTEMS-SERIES B

ISSN

1531-3492

e-ISSN

—

Volume of the periodical

26

Issue of the periodical within the volume

11

Country of publishing house

US - UNITED STATES

Number of pages

13

Pages from-to

5755-5767

UT code for WoS article

000702814800001

EID of the result in the Scopus database

2-s2.0-85118407542