By Hirofumi Uzawa
Hirofumi Uzawa's theoretical framework addresses 3 significant difficulties bearing on worldwide warming and different environmental risks. First, it considers all phenomena concerned with worldwide environmental matters that express externalities of 1 sort or one other. Secondly, it covers international environmental matters concerning overseas and intergenerational fairness and justice. finally, it offers with international environmental concerns in regards to the administration of the ambience, the oceans, water, soil, and different normal assets having to be made up our minds via a consensus of affected nations.
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Extra resources for Economic Theory and Global Warming
N. The behavioral characteristics of individual countries are expressed in the aggregate by two representative economic agents: the consumers, who are concerned with the choice of economic activities related to consumption, on the one hand, and the producers, who are in charge of the choice of technologies and levels of productive activities on the other. 24 Economic Theory and Global Warming Speciﬁcations for Utility Functions We assume that the economic welfare of each country ν is expressed by a preference ordering that is represented by the utility function uν = uν (cν , a), where cν = (cνj ) is the vector of goods consumed in country ν; j generically refers to consumption goods ( j = 1, .
32) Let us denote by λν the Lagrangian unknown for the constraint (32); then, the Lagrangian form is given by Lν c∗ν , a∗(ν) ; λν = 1c∗ν − a∗(ν) − λν log ϕ a∗(ν) + log uν (c∗ν ) − log uν . The Euler–Lagrange conditions for this Lagrangian form are uνcν (c∗ν ) uν (c∗ν ) (33) 1 = λν τ a∗(ν) , (34) 1 = λν where (ν) τ a∗(ν) = − ϕ a∗ (ν) ϕ a∗ (ν) is the impact coefﬁcient of global warming at a∗ . 50 Economic Theory and Global Warming Multiplying both sides of (33) by c∗ν and noting the Euler identity for utility function uν (cν ), we obtain 1c∗(ν) = λν .
A particularly important role is played by nitrogenous fertilizers and biomass burning. Nitrous oxide is also emitted by the combustion of fossil fuels, and changes in the pattern of land use contribute to the atmospheric emission of nitrous oxide. Chloroﬂuorocarbons are the greenhouse gases that are solely anthropogenic. They were released into the atmosphere for the ﬁrst time during the twentieth century. The most common CFCs are CFC-12 and CFC-11, which had atmospheric concentrations of 392 and 226 ppt, respectively, in 1986.