Cahier 2018-04| Title: | Viability standards and multi-criteria maximin | | Abstract: | This paper deals with sustainability criteria and standards. The maximin cri-terion, as the highest performance that can be sustained over time, promotes intergenerational equity, a pivotal issue for sustainability. The viable control approach, by investigating trajectories and actions complying over time with various standards and constraints, provides major insights into strong sustain-ability. The present paper addresses the links between maximin and viability approaches in a multi-criteria context. It first shows how ‘Pareto maximin’ can be characterized through viability kernels. Such a result makes it possible to determine the trade-offs and/or synergies between non-substitutable economic and ecological standards underlying strong sustainability. The second main re-sult of the paper is to propose algorithms derived from the viability version of dynamic programming to approximate numerically Pareto maximin values, con-trols and sustainable standards. Two examples relying on renewable resource management illustrate these analytic and numerical findings. | | Keyword(s): | Strong Sustainability, Maximin, Multi-criteria, Viability, Dynamic programming, Renewable resources | | Auteur(s) : | Pedro Gajardo, Luc Doyen | | JEL Class.: | Q22-C53 | Télécharger le cahier Retour à la liste des Cahier du GRETHA (2018) |
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