Shadow Prices of Missouri Public Conservation Land
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.
Volume (Year): 29 (2001)
Issue (Month): 6 (November)
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