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.

Indeterminacy, Bifurcations and Chaos in an Overlapping Generations Model with Negative Environmental Externalities / Antoci, Angelo; Sodini, M.. - In: CHAOS, SOLITONS AND FRACTALS. - ISSN 0960-0779. - 42:(2009), pp. 1439-1450.

Indeterminacy, Bifurcations and Chaos in an Overlapping Generations Model with Negative Environmental Externalities

ANTOCI, Angelo;
2009

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.
Indeterminacy, Bifurcations and Chaos in an Overlapping Generations Model with Negative Environmental Externalities / Antoci, Angelo; Sodini, M.. - In: CHAOS, SOLITONS AND FRACTALS. - ISSN 0960-0779. - 42:(2009), pp. 1439-1450.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11388/48610
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