Abstract
The need to take into account sustainability in agricultural resource management is now universally admitted. While the term “sustainability” can mean different things to different people, it always involves a consideration of the future. From an economic point of view, sustainability can be defined as an improvement of the performance of a system so as not to exhaust the basic natural resources on which its future performance depends (Pearce et al. 1990). This definition emphasizes the importance of preserving the natural resource base.
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Notes
- 1.
The problem of defining individual or social utility functions is extremely difficult and is not dealt with in this paper.
- 2.
In the case where the decision-maker is not considered risk-neutral, other objective functions can be proposed.
- 3.
Obtaining a global maximum cannot always be achieved by using available non-linear programming algorithms, though it can be obtained by adequate formulation of the problem.
- 4.
All the models have been solved by using the GAMS software.
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Blanco-Fonseca, M., Flichman, G., Belhouchette, H. (2011). Dynamic Optimisation Problems: Different Resolution Methods Regarding Agriculture and Natural Resource Economics. In: Flichman, G. (eds) Bio-Economic Models applied to Agricultural Systems. Springer, Dordrecht. https://doi.org/10.1007/978-94-007-1902-6_3
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