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Market Power and Shadow Prices for Nonrenewable Resources: An Empirical Dynamic Model AgEcon
Lin, C.-Y. Cynthia; Zhang, Wei.
This paper estimates a dynamic model of the world market for nine nonrenewable resources over the period 1970-2004, and tests whether the countries supplying a nonrenewable resource behaved as price-takers or oligopolists. The model generates estimates of the shadow price of the nine minerals with minimal functional form assumptions. The results show that the countries supplying hard coal, lead, and oil behaved as oligopolists during the study period, while the world market for other nonrenewable resources could be characterized as perfectly competitive. The shadow prices do not increase monotonically, which is evidence for stock effects in extraction costs. The shadow prices of most minerals peaked between 1970 and 1980.
Tipo: Conference Paper or Presentation Palavras-chave: Nonrenewable resources; Market power; Shadow price; Empirical dynamic model; Resource /Energy Economics and Policy; Q31; L13.
Ano: 2011 URL: http://purl.umn.edu/103397
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Estimating Agricultural Pollution Abatement Costs at the Plot Level Using Experimental Data: A Maximum Entropy Approach AgEcon
Bond, Craig A.; Farzin, Y. Hossein.
This paper uses a directional output distance function to estimate a multi-output production frontier for a sample of experimental plots grown for the Sustainable Agriculture Farming Systems project at the University of California, Davis. Cross-sectional technical efficiency indices are estimated that take into account two proxies for undesirable output: number of trips across a field as a proxy for air pollution and/or soil erosion, and pints of pesticides applied to account for potential leaching and/or health risks. Shadow price estimates based on marginal rates of transformation ranged from $8-$21 for trips, while shadow prices for pints of pesticides averaged $23-$27.
Tipo: Journal Article Palavras-chave: Directional distance function; Environmental efficiency index; Shadow price; Environmental Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/8642
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THE ROLE OF NON-PARAMETRIC APPROACH IN ADJUSTING PRODUCTIVITY MEASURES FOR ENVIRONMENTAL IMPACTS AgEcon
Shaik, Saleem; Perrin, Richard K..
This paper addresses the role of non-parametric analysis in adjusting agricultural productivity measures for environmental impacts. The modified Tornquist-Theil index computed using shadow prices derived from the programming procedures is compared and contrasted with a non-parametric hyperbolic graph productivity index for the case of Nebraska agriculture.
Tipo: Conference Paper or Presentation Palavras-chave: Nonparametric; Shadow price; Productivity; Environmental Economics and Policy; Productivity Analysis.
Ano: 1999 URL: http://purl.umn.edu/21716
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Farming or burning? shadow prices and farmer’s impatience on the allocation of multi-purpose resource in the mixed farming system of Ethiopia AgEcon
Teklewold, Hailemariam.
In crop-livestock mixed farming system where farm yard manure (FYM) is considered as important multi-purpose resource such as source of soil organic matter, additional source of income and household source of energy, soil fertility depletion could takes place within the perspective of the household allocation pattern of FYM. This paper estimates structural FYM-allocation model in the presence of corner solution, with the objective of examining the role of various returns to FYM and farmer’s impatience on the propensity to allocate FYM for alternative purposes. We illustrate the model using data based on a random sample of 493 farm households in the central highlands of Ethiopia. We find that the higher the selling price of FYM is the higher the incentive...
Tipo: Conference Paper or Presentation Palavras-chave: Impatience; Shadow price; Allocation; Farm yard manure; Ethiopia; Farm Management; Q01; Q12.
Ano: 2011 URL: http://purl.umn.edu/116080
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