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| Tekijä: | Vardanyan, M. Noh, D-W. |
| Otsikko: | Approximating pollution abatement costs via alternative specifications of a multi-output production technology: a case of the US electric utility industry |
| Lehti: | Journal of Environmental Management
2006 : JULY, VOL. 80:2, p. 177-190 |
| Asiasana: | shadow prices output pollution |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the output set frontiers that are produced by modeling the technology with different functional forms. The authors demonstrate that different parameterization methodologies produce different empirical analogues of the output set and, as a consequence, can generate rather different estimates of the shadow prices of socially undesirable outputs, or "bads". It is suggested that the estimate of the output set boundary varies with the choice of a parameterization technique, which provides a possible explanation for the sizeable differences between the shadow price of bads reported in the literature. |
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