Pareto Optimality in the Extraction of Fossil Fuels and the Greenhouse Effect: A Note
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This note generalizes the Solow-Stiglitz efficiency condition for natural resources to the problem of fossil fuel extraction with a greenhouse effect. The generalized optimality condition suggests that the greenhouse effect implies overextraction in the sense of leaving future generations a wrongly
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美国国家经济研究局创建时间：
2007-09-01
