Article (Scientific journals)
Pollution Perception: A Challenge for Intergenerational Equity
Schumacher, Ingmar; Zou, Benteng
2008In Journal of Environmental Economics and Management, 55, p. 296-309
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Keywords :
pollution perception; overlapping generations; intergenerational equity; complex dynamics; sustainability
Abstract :
[en] In this article we extend the recent literature on overlapping generations and pollution by allowing generations to perceive the level of pollution differently than the actual level of pollution. We call this pollution perception. Pollution perception can visualize itself as either a concern for the °ow of pollution only, or for the stock, or a combination of both. We derive this extension based on empirical evidence from recent advances in behavioral economics. Pollution perception has not only signifficant consequences for the steady state levels of pollution and capital, but we also and a qualitative change in the dynamics from similar models without pollution perception [23]. Specifically, we derive optimal non-linear dynamics through complex eigenvalues and Hopf or Flip bifurcations for a large set of parameters. This leads to violations of two standard criteria of sustainability, suggesting that pollution perception can be another source of intergenerational inequity.
Disciplines :
Quantitative methods in economics & management
Identifiers :
UNILU:UL-ARTICLE-2008-979
Author, co-author :
Schumacher, Ingmar
Zou, Benteng  ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
Language :
English
Title :
Pollution Perception: A Challenge for Intergenerational Equity
Publication date :
2008
Journal title :
Journal of Environmental Economics and Management
ISSN :
1096-0449
Publisher :
ACADEMIC PRESS
Volume :
55
Pages :
296-309
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBilu :
since 21 August 2013

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