loading page

Modeling paper (glitchy)
  • Olivia Gonzalez
Olivia Gonzalez
Ph.D. student, Department of Economics, George Mason University, 4400 University Drive, Fairfax, VA 22030; Email: ogonzal4@gmu.edu.
Author Profile

Abstract

Earth has grown more difficult to inhabit with increased smog and pollution, leading to increased efforts to colonize on other planets. Humanity's first Martian colony "Bowie Base One" was the first major step towards finding new planets to occupy, but with its demise in 2059 as a result of water contamination, these efforts were seriously set back. Recent improvements in water purification technology has made recolonizing a possibility . The technology prevents spreading of viruses through the water supply, but with a margin of error as it can sometimes malfunction. This paper utilizes a Constant Elasticity of Substitution (CES) production function to model how colonist producers on a new-found "Bowie Base Two" would optimize in response to water contamination shocks.