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| Author: | Byrns, E. Jr |
| Title: | A model for a firm's optimal environmental policy |
| Journal: | Engineering Economist
1994 : SPRING, VOL. 39:3, p. 249-262 |
| Index terms: | COMPANIES MODELS ENVIRONMENT POLICY |
| Language: | eng |
| Abstract: | This paper presents a framework for developing a firm's environmental policy. A model is constructed for expected profits which incorporates the effects of both regulatory action and consumer behaviour. A manager must allocate resources to both the lobbying and the product modification budgets so that the expected profits are maximized. Adaptive learning process relates the budgeting decisions to the expected profit function. The model is used to analyze both the unconstrained and constrained budgeting problems. |
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