Derivation of shadow prices for undesirable outputs: a distance function approach
Article Abstract:
An analytical technique is presented for gauging shadow prices of undesirable outputs which are plant-specific, in order to produce a balanced environmental policy. A pattern of shadow price variation can be shown by the type of pollution, plant characteristics and by production technique. The model gives each producer's shadow prices, allows the productive efficiency of each producer to be measured, and presents the structure of production technology. The data should help regulators to establish penalty rates for pollutant emissions.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
The flexible CES-GBC family of cost functions: derivation and application
Article Abstract:
A methodology arrived at a new variety of flexible functional forms, indicated by CES-GBC, that are richer in structure than the existing cost functions. The CES-GBC form was used to calculate the demand for electricity under time-of-use pricing. The elasticity estimates yield very reasonable results and the fit of the estimated equations is incomparable with the commonly used generalized Leontief, generalized square root quadratic or any member of the generalized Box-Cox family of cost functions.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The outputs of retail activities: concepts, measurement and evidence from U.S. census data
Article Abstract:
A new economic framework for analysing retail margins is described. Distribution services are treated as retail company outputs to analyse retail margins, with distribution services viewed as vital retail margin determinants. Some 49 retail sectors are used to form the data base. The data rejects price and quantity settings under assumptions of monopolistic competition and profit maximisation. Retail margins can be determined by outputs of retail activities.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Asset equilibria in Lp spaces with complete markets: a duality approach. Is intertemporial choice theory testable?
- Abstracts: Adoption of uncertain multi-stage technology projects: a real options approach. On the Shapley-Scarf economy: the case of multiple types of indivisible goods
- Abstracts: Scaling factors in estimation of time-nonseparable utility functions. Price-augmenting returns to scale: an application to nonseparable two-stage technologies
- Abstracts: Judgemental revision of sales forecasts: the relative performance of judgemntally revised versus non-revised forecasts
- Abstracts: A general model of dynamic labor demand. Taxes, fringe benefits and faculty. A model of layoff, search and job choice and its estimation