The optimum growth rate for population under critical-level utilitarianism

Renström, T.I.; Spataro, L.

doi:10.1007/s00148-010-0348-2

The optimum growth rate for population under critical-level utilitarianism

Renström, T.I.; Spataro, L.

Authors

Dr Thomas Renstrom t.i.renstrom@durham.ac.uk
Associate Professor

L. Spataro

Abstract

We characterize optimal consumption, capital, and population growth of a production economy under critical-level utilitarianism. First, we show that neither classical utilitarianism nor average utilitarianism can avoid a corner solution for the population growth rate, in that under the former, population grows at the maximum speed (the so-called repugnant conclusion) while under the latter, it grows at the minimum. Second, we show that critical level utilitarianism yields an interior solution for the population growth rate provided the critical level belongs to a positive, open interval. Finally, we characterize the transition to the steady state and perform comparative dynamics analysis.

Citation

Renström, T., & Spataro, L. (2011). The optimum growth rate for population under critical-level utilitarianism. Journal of Population Economics, 24(3), 1181-1201. https://doi.org/10.1007/s00148-010-0348-2

Journal Article Type	Article
Publication Date	Jul 1, 2011
Deposit Date	Jul 14, 2011
Publicly Available Date	Jul 19, 2011
Journal	Journal of Population Economics
Print ISSN	0933-1433
Electronic ISSN	1432-1475
Publisher	Springer
Peer Reviewed	Peer Reviewed
Volume	24
Issue	3
Pages	1181-1201
DOI	https://doi.org/10.1007/s00148-010-0348-2
Keywords	Critical-level utilitarianism, Economic growth, Population.
Public URL	https://durham-repository.worktribe.com/output/1506102