Growth versus environment in dynamic models of capital accumulation (Q1777575)
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scientific article; zbMATH DE number 2170727
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Growth versus environment in dynamic models of capital accumulation |
scientific article; zbMATH DE number 2170727 |
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Growth versus environment in dynamic models of capital accumulation (English)
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23 May 2005
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Summary: 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.
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open loop Nash solution
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feedback Nash solution
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