Economic analysis addresses risk and long-term issues with discounted expected utility, focusing on optimality. Viability theory is based on sustainability constraints to be satisfied over time, focusing on feasibility. We make a bridge between these two approaches by showing that viability is...

We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...

Economic analysis addresses risk and long-term issues with discounted expected utility, focusing on optimality. Viability theory is based on sustainability constraints to be satisfied over time, focusing on feasibility. We make a bridge between these two approaches by showing that viability is...

We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...

This paper develops a theoretical framework to assess resources management procedures from a sustainability perspective, when resource dynamics is marked by uncertainty. Using stochastic viability, management procedures are ranked according to their probability to achieve economic and ecological...

The maximin criterion defines the highest utility level which can be sustained in an intergenerational equity perspective. The viability approach characterizes all the economic trajectories sustaining a given, not necessarily maximal, utility level. In this paper, we exhibit the strong links...

Evaluating the sustainability of a society requires a system of shadow or accounting values derived from the sustainability objective. As a first step toward the derivation of such shadow values for a maximin objective, this paper studies an economy composed of two reproducible assets, each...

Evaluating the sustainability of a society requires a system of shadow or accounting values derived from the sustainability objective. As a first step toward the derivation of such shadow values for a maximin objective, this paper studies an economy composed of two reproducible assets, each...