Efficiency of a Common Natural Forest Exploitation by the System of Individual Transferable Quotas with Overlapping Generations, Capital, and Monetary Inheritance

This article is interested in the management of a natural forest. The main objective is the analysis of the efficiency of the exploitation model by individual transferable quotas with overlapping generations, capital, and monetary legacy. A general equilibrium model including some realities of the studied land has been established. After resolution by Lagrangian, the results show that the exploitation system by individual transferable quotas with overlapping generations, capital and monetary legacy gives conditions of optimal solution. Besides, it permits a lasting exploitation of the natural forest without any of the other incentives required in similar models because of the noncooperative behavior of the actors