haku: @author Lee, M. / yhteensä: 26
viite: 3 / 26
| Tekijä: | Lee, M. |
| Otsikko: | The shadow price of substitutable sulfur in the US electric power plant: a distance function approach |
| Lehti: | Journal of Environmental Management
2005 : OCT, VOL. 77:2, p. 104-110 |
| Asiasana: | shadow prices |
| Vapaa asiasana: | input distance function indirecr Morishima elasticity of substitution Porter hypothesis marginal abatement cost Internallexternal trading |
| Kieli: | eng |
| Tiivistelmä: | Given restrictions on sulfur dioxide emissions, plants might choose long-run strategies that involve either an investment in improving boiler fuel-efficiency or a shift to a production process that is effective in removing sulfur dioxide. In this approach the shadow price of sulfur dioxide as the opportunity cost of lowering sulfur emissions in terms of forgone capital was measured to allow for the possibility of substitution between sulfur and productive capital. The input distance function is estimated with data from 51 coal-fired US power units operating from 1977 to 1986 and the indirect Morishima elasticities of substitution show that the substitutability of capital for sulfur is comparatively high. |
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