Optimal Growth, Resource Amenities and the Preservation of Natural Environments
研究在含有生产性自然资源的地区，永久保护自然环境的最优条件，发现比以往文献更严格，消费增长和商品价格下降不足以证明永久保护合理，初始资本存量是重要决定因素。
This paper examines the conditions for which it is optimal to permanently preserve natural environments in which a productive natural resource is found. The conditions are more restrictive than those previously indicated in the literature on the economics of natural environments. Increasing consumption and declining commodity prices are not sufficient to warrant permanent preservation. The initial capital stock can be an important determinant of the optimal level of preservation. In addition, resource amenity values will increase the initial resource price and decrease the rate of growth of the resource price.