Stavins, Robert N, Alexander F Wagner, and Gernot Wagner. “
Interpreting Sustainability in Economic Terms: Dynamic Efficiency Plus Intergenerational Equity.”
Economics Letters 79 (2003): 339–343.
Publisher's VersionAbstractEconomists have confined the concept of ‘sustainability’ to intertemporal distributional equity. We propose a broader definition, combining dynamic efficiency and intergenerational equity, and relate it to two concepts from neoclassical economics: potential Pareto-improvements and inter-personal compensation.
sustainability_paper_in_econ_let.pdf