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Shadow Prices of Missouri Public Conservation Land

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  • Rolf Färe

    (Oregon State University)

  • Shawna Grosskopf

    (Oregon State University)

  • William L. Weber

    (Southeast Missouri State University)

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    Abstract

    The directional distance function provides a complete characterization of the production technology and, when differentiable, can be used to derive shadow prices for nonmarket outputs. A quadratic functional form and the linear programming least absolute deviations method is used to implement the model and to estimate shadow prices and total value for the nonmarket characteristics of Missouri conservation land.

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    Bibliographic Info

    Article provided by in its journal Public Finance Review.

    Volume (Year): 29 (2001)
    Issue (Month): 6 (November)
    Pages: 444-460

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    Handle: RePEc:sae:pubfin:v:29:y:2001:i:6:p:444-460

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    Cited by:
    1. M. Murty & Surender Kumar & Kishore Dhavala, 2007. "Measuring environmental efficiency of industry: a case study of thermal power generation in India," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(1), pages 31-50, September.
    2. Kumar, Surender & Managi, Shunsuke, 2009. "Energy price-induced and exogenous technological change: Assessing the economic and environmental outcomes," Resource and Energy Economics, Elsevier, vol. 31(4), pages 334-353, November.
    3. Sipilainen, Timo & Huhtala, Anni, 2012. "Opportunity Costs of Providing Crop Diversity in Organic and Conventional Farming," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126652, International Association of Agricultural Economists.
    4. Bonilla, Jorge & Coria, Jessica & Sterner, Thomas, 2012. "Synergies and Trade-offs between Climate and Local Air Pollution: Policies in Sweden," Working Papers in Economics 529, University of Gothenburg, Department of Economics.
    5. Fare, Rolf & Grosskopf, Shawna & Weber, William L., 2006. "Shadow prices and pollution costs in U.S. agriculture," Ecological Economics, Elsevier, vol. 56(1), pages 89-103, January.
    6. Bellenger, Moriah J. & Herlihy, Alan T., 2010. "Performance-based environmental index weights: Are all metrics created equal?," Ecological Economics, Elsevier, vol. 69(5), pages 1043-1050, March.

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