Antoci, Angelo and Naimzada, Ahmad and Sodini, Mauro (2010) Bifurcations and chaotic attractors in an overlapping generations model with negative environmental externalities. In: Bischi, Gian Italo and Chiarella, Carl and Gardini, Laura (eds). Nonlinear dynamics in economics, finance and social sciences: essays in honour of John Barkley Rosser Jr, Heidelberg [etc.], Springer. p. 39-53. eISBN 978-3-642-04023-8. Book Section.
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We analyze an overlapping generations model with the following features. There exists a continuum of identical individuals whose welfare depends on leisure, on the stock E of a free access environmental good and on the consumption C of a private good. The private good is produced by a continuum of identical perfectly competitive firms via a constant returns technology (represented by a Cobb–Douglas production function); the representative firm uses physical capitalK and labour L of the representative individual as productive inputs. Each economic agent considers as negligible the negative impact of his choices on the environmental good; this implies that the choices of each agent generate negative externalities on the others.
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