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The Economics of Non-Convex Ecosystems: Introduction |
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| Authors: | Partha Dasgupta Karl-Göran Mäler |
| Affiliation: | (1) Faculty of Economics, Cambridge University, Sidgwick Avenue, Cambridge, CB3 9DD, UK;(2) Beijer International Institute of Ecological Economics, Stockholm, Sweden |
| Abstract: | The word “convexity” is ubiquitous in economics, but absent fromeconomics. In this paper we explain why, and show what differenceit makes to economic analysis if ecosystem non-convexities aretaken seriously. A simple proof is provided of the connectionbetween “self-similarity” and “power laws”. We also provide anintroduction to each of the papers in the Symposium and draw outthe way in which they form a linked set of contributions. |
| Keywords: | bifurcation points environmental Kuznets curve hysteresis irreversibility non-convexity Pontryagin Principle power laws property rights separatrix structural stability thresholds |
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