Social influence and sustainability in the use of renewable resources
AbstractIn this paper we present a model in which we show that if the withdrawal activities referring to a renewable resource are abusive, they generate a social reaction of some kind that changes the social preferences. This change is taken into account by the social planner in deciding the optimal allocation between consumption and stock of the resource. Given these new conditions we ask how the stock of the resource in the steady state changes and what can be deduced about the chance of overuse of the resource. At the same time we compare these results to the ones obtained with traditional models which did not take social reactions into account. The conclusions obtained show that with these new conditions the stock of the steady state increases and the economy behavior becomes more conservative, diminishing the chance of overuse of the resource.
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