This paper studies sustainability from both an economic and environmental perspective. We concentrate in two separate but interlinked environmental issues: the state of the world's forests and the stock of CO₂ in the atmosphere. These two issues are closely related to human economic activity. Our paper provides many insights on the different trade-offs faced to achieve sustainability and draws policy implications as to what is the path leading to sustainability in the long run. We study the sustainability of the system by means of a powerful tool: Viability Theory.
Group for Research in Decision Analysis