Weak Complementarity and Quasi Rents
This paper describes production analogs to the conditions used in consumer theory to recover measures of willingness to pay for non-marketed environmental resources. The analysis suggests that both weak complementarity and Hicksian neutrality have production analogs. Moreover, it indicates that past measures of the welfare losses due to pollution have failed to distinguish constant profit and constant quasi-rent source meqasures, the latter is the theoretically consistent concept to be used.
|Date of creation:||1995|
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