Regulating activities with catastrophic environmental effects

In this paper a catastrophe is an unforeseen event which reduces society's level of consumption to zero. Two types of catastrophe are analyzed. In one case catastrophe results in a temporary reduction in utility; in the other, catastrophe is irreversible and is tantamount to truncating the plan...

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Veröffentlicht in:J. Environ. Econ. Manage.; (United States) 1976-01, Vol.3 (1), p.1-15
1. Verfasser: Cropper, M.L
Format: Artikel
Sprache:eng
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