22 Pages Posted: 7 Jan 1997
Date Written: May 1996
Sustainability is an important, influential but elusive concept. I review concepts related to sustainability in earlier literature, and then summarize and synthesize recent work on sustainablity by Chichilnisky (1993), Beltratti, Chichilnisky and Heal (1994) and Heal (1993). This provides a basis for formalizing the concept and operationalizing it via shadow prices and associated accounting practices.
JEL Classification: D90, O21, H43
Suggested Citation: Suggested Citation