2012
DOI: 10.1016/j.jedc.2012.03.004
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Maximin, viability and sustainability

Abstract: a b s t r a c tThe maximin criterion defines the highest utility level that can be sustained in an intergenerational equity perspective. The viability approach makes it possible to characterize all the economic trajectories sustaining a given, not necessarily maximal, utility level. In this paper, we exhibit the strong links between maximin and viability: we show that the value function of the maximin problem can be obtained in the viability framework, and that the maximin path is a particular viable path. Thi… Show more

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Cited by 50 publications
(36 citation statements)
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References 35 publications
(68 reference statements)
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“…Thus, the model accounts for intergenerational equity and allows for conciliation between the present and the future. By identifying current public‐policy decisions that avoid future crises without penalizing the current generation, the viability approach is consistent with the definition of sustainability especially through its links with the maximum (or Rawlsian) approach (i.e., approach focused on the maximization of the poorest generation) as emphasized in Doyen and Martinet ().…”
Section: Discussionmentioning
confidence: 86%
“…Thus, the model accounts for intergenerational equity and allows for conciliation between the present and the future. By identifying current public‐policy decisions that avoid future crises without penalizing the current generation, the viability approach is consistent with the definition of sustainability especially through its links with the maximum (or Rawlsian) approach (i.e., approach focused on the maximization of the poorest generation) as emphasized in Doyen and Martinet ().…”
Section: Discussionmentioning
confidence: 86%
“…In practical management situations, identifying such thresholds would need to involve stakeholders, and the results of such sensitivity analysis could inform the process of deciding on adequate values to retain for a viability assessment, as has been shown by [55]. The strong links between maximin and viability approaches pointed out in [23] can also bring important insights in this respect.…”
Section: Integrated Management Of Mixed Fisheries and Limitsmentioning
confidence: 99%
“…First and foremost, resilience is about dynamic systems, including the possible existence of feedbacks, nonlinear trajectories, and thresholds. This sustainable zone is the multidimensional space within which the system is viable, that is, does not violate its viability constraints today and in the future (Baumgärtner & Quaas, 2009;Cissé et al, 2013;Doyen et al, 2017;Doyen & Martinet, 2012;Mouysset et al, 2013;Schuhbauer & Sumaila, 2016). Derived from control theory (Bellman, 1964), the aim of viability approach is to analyze the compatibility between the (possibly uncertain) dynamics of a system and a series of constraints and to determine a set of controls, actions, or decisions that would allow the system to stay within the "sustainable zone" defined by the limits of the various constraints.…”
Section: Why the Viability Approach?mentioning
confidence: 99%
“…Derived from control theory (Bellman, 1964), the aim of viability approach is to analyze the compatibility between the (possibly uncertain) dynamics of a system and a series of constraints and to determine a set of controls, actions, or decisions that would allow the system to stay within the "sustainable zone" defined by the limits of the various constraints. This sustainable zone is the multidimensional space within which the system is viable, that is, does not violate its viability constraints today and in the future (Baumgärtner & Quaas, 2009;Cissé et al, 2013;Doyen et al, 2017;Doyen & Martinet, 2012;Mouysset et al, 2013;Schuhbauer & Sumaila, 2016). In mathematical terms, this sustainable zone is called the "viability kernel.…”
Section: Why the Viability Approach?mentioning
confidence: 99%