On the extraction of common-pool resources
Impacts of population, amenity values and income inequality
Bibliographic Data
| ID | 21691074 |
|---|---|
| Authors | Jussi Uusivuori (Natural Resources Institute Finland), Janne Rämö (0000-0002-0528-5207, Natural Resources Institute Finland, corresponding author), Olli-Pekka Kuusela (0000-0003-3878-5440, UNU-WIDER) |
| Year | 2025 |
| Volume | 30 |
| Issue | 6 |
| Pages | 483-499 |
| Publication date | 2025-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environment and Development Economics (JOURNAL) |
| Journal identifiers | ISSN: 1355-770X • E-ISSN: 1469-4395 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s1355770x25000233 |
| OpenAlex | W4413065156 |
| Language | EN |
| References cited | 25 |
This paper studies the dynamic extraction problem of an exhaustible common-pool resource. We build on classical closed-economy growth models with intertemporally maximizing, infinitely lived dynasties exhibiting a constant population growth rate. Utility is obtained from periodic consumption based on the fixed-rate capital and the extraction of the resource, and from the amenity values derived from the standing resource stock. The resource contributes to both consumptive and amenity utilities, while different generations are interconnected by intergenerational altruism. Dynamic allocation of the natural resource is determined by a benevolent social planner. This allows us to examine intra-generational inequity issues in combination with the intergenerational concerns. We demonstrate how the optimal allocation of the resource depends on the population growth, wealth level, inequality, ecological vulnerability of the resource and rivalry on the amenity value. Our results highlight the trade-offs between reducing the degree of inequality and preserving the ecological values of the resource
Amenity · Biology · Common-pool resource · Economics · Endowment · Geography · Inequality · Microeconomics · Natural resource · Natural resource economics · Population · Population growth · Social planner · Climate Change Policy and Economics · Economic theories and models · Sustainable Development and Environmental Policy · Ecology
Optimum Growth in an Aggregative Model of Capital Accumulation
Institutions and the Environment
Discounting climate change
The dynamics of deforestation and reforestation in a developing economy
Cooperative behavior and common pool resources
What has Driven Deforestation in Developing Countries Since the 2000s? Evidence from New Remote-Sensing Data
An Economic Theory of Clubs
A Mathematical Theory of Saving
The Role of Rivalry
| Citation velocity | historical |
|---|---|
| Highly cited | No |