Additional Materials: Fourth
Perman, Ma, Common, Maddison and McGilvray
NATURAL RESOURCE AND ENVIRONMENTAL ECONOMICS
3: Ethics, economics and the environment
- Maximin Utilty A PowerPoint slide show for a lecture given by one of the authors, based on a paper by Professor Jon Conrad - in which he investigates the use of a Maximin utility function (rather than a conventional classical utilitarian utility function) in an optimal resource depletion model. Conrad's paper shows how this can be implemted using a simple Excel model.