Define the sustainability criterion as used by Tietenberg
1) Define the sustainability criterion as used by Tietenberg. What does this criterion say about
fairness to future generations? What does this criterion say about efficiency? How can depletable
resources be used today and still satisfy the criterion?
2) Is water a renewable or depletable resource? Explain how water is allocated in the western US
and how this may result in an inefficient allocation. What better methods of allocation might
work toward efficiency?
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