Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1896033 | Chaos, Solitons & Fractals | 2009 | 12 Pages |
Abstract
We analyze an overlapping generations model where agent’s welfare depends on three goods: leisure, environmental quality and consumption of a private good.We assume that the production process of the private good depletes the natural resource and that the consumption of the private good alleviates the damages due to environmental deterioration. In such context, we show that individuals’ reactions to environmental deterioration may lead to complex dynamics, in particular to the rise of periodic orbits and chaos.
Related Topics
Physical Sciences and Engineering
Physics and Astronomy
Statistical and Nonlinear Physics
Authors
Angelo Antoci, Mauro Sodini,