Shadow Prices

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Francesc Hernandezsancho - One of the best experts on this subject based on the ideXlab platform.

  • Shadow Prices of emerging pollutants in wastewater treatment plants quantification of environmental externalities
    Journal of Environmental Management, 2017
    Co-Authors: A Bellverdomingo, Ramon Fuentes, Francesc Hernandezsancho
    Abstract:

    Conventional wastewater treatment plants (WWTPs) are designed to remove mainly the organic matter, nitrogen and phosphorus compounds and suspended solids from wastewater but are not capable of removing chemicals of human origin, such as pharmaceutical and personal care products (PPCPs). The presence of PPCPs in wastewater has environmental effects on the water bodies receiving the WWTP effluents and renders the effluent as unsuitable as a nonconventional water source. Considering PPCPs as non-desirable outputs, the Shadow Prices methodology has been implemented using the output distance function to measure the environmental benefits of removing five PPCPs (acetaminophen, ibuprofen, naproxen, carbamazepine and trimethoprim) from WWTP effluents discharged to three different ecosystems (wetland, river and sea). Acetaminophen and ibuprofen show the highest Shadow Prices of the sample for wetland areas. Their values are 128.2 and 11.0 €/mg respectively. These results represent a proxy in monetary terms of the environmental benefit achieved from avoiding the discharge of these PPCPs in wetlands. These results suggest which PPCPs are urgent to remove from wastewater and which ecosystems are most vulnerable to their presence. The findings of this study will be useful for the plant managers in order to make decisions about prioritization in the removal of different pollutants.

  • environmental benefit of improving wastewater quality a Shadow Prices approach for sensitive areas
    Water Economics and Policy, 2017
    Co-Authors: A Bellverdomingo, Francesc Hernandezsancho
    Abstract:

    The use of effluents from wastewater treatment plants (WWTPs) as a non-conventional source of water for wetlands in arid and semi-arid regions is becoming the most-often sought solution for maintaining water flow in sensitive wetlands there. However, the managing effluent quality should be a requirement because excess nutrients (mainly nitrogen and phosphorus) can generate eutrophication problems in wetlands. In the Mediterranean area in general, wetlands are strongly vulnerable to eutrophication, which is why they are classified as sensitive areas. Our study uses a data set from 24 WWTPs, effluents of which are discharged to wetlands in the coast of Community of Valencia. We use the Shadow Prices methodology to quantify the environmental avoided costs and the environmental benefit (both in monetary units) of nitrogen and phosphorus removal in wastewater effluent. The results highlight the importance of reducing these pollutants in WWTP effluents for maintaining the suitable water quality in wetlands. Our study demonstrates the potential for using Shadow Prices methodology for monetary valuation of environmental externalities in wetlands that use treated wastewater as a non-conventional water source.

  • the calculation of Shadow Prices for industrial wastes using distance functions an analysis for spanish ceramic pavements firms
    International Journal of Production Economics, 2001
    Co-Authors: Andres J Picazotadeo, Ernest Reigmartinez, Francesc Hernandezsancho
    Abstract:

    Abstract This paper deals with the calculation of Shadow Prices for two industrial wastes generated on their production processes by 18 firms belonging to the Spanish ceramic pavements industry. These Prices are then used to calculate an extended productivity index which takes into consideration wastes going with the production of marketable goods. We follow the methodological approach first proposed by Fare et al. (The Review of Economics and Statistics 75 (1993)). A negative correlation is found between absolute Shadow Prices and wastes production intensity, reflecting a greater marginal cost of eliminating wastes for those firms using less contaminant production processes. Differences between a conventional labour productivity index and an extended productivity index are also statistically related to firms characteristics such as size, previous investments in cleaner technologies and affiliation to a Technological Institute.

Zhiyang Shen - One of the best experts on this subject based on the ideXlab platform.

  • worldwide carbon Shadow Prices during 1990 2011
    Energy Policy, 2017
    Co-Authors: Jean-philippe Boussemart, Hervé Leleu, Zhiyang Shen
    Abstract:

    Unlike most previous research, which has focused on estimating carbon Shadow Prices at regional or sectoral levels, this paper attempts to estimate carbon Shadow Prices at a worldwide level. A non-parametric robust framework estimates carbon Shadow Prices for 119 countries from all continents in 12 large groups. Our empirical results reveal that the global carbon Shadow price is increasing by around 2.24% per annum and reached 2845 US dollars per ton in 2011. Regional carbon Shadow Prices present significant disparities and evolve within different categories over the analyzed period. We find a substantial sigma convergence process of carbon Shadow Prices among countries during 1990–2007 while divergence appears after the global financial crisis. We then analyze the relationship between carbon Shadow Prices and the implementation of the Kyoto Protocol.

  • Worldwide carbon Shadow Prices during 1990–2011
    Energy Policy, 2017
    Co-Authors: Jean-philippe Boussemart, Hervé Leleu, Zhiyang Shen
    Abstract:

    Unlike most previous research, which has focused on estimating carbon Shadow Prices at regional or sectoral levels, this paper attempts to estimate carbon Shadow Prices at a worldwide level. A non-parametric robust framework estimates carbon Shadow Prices for 119 countries from all continents in 12 large groups. Our empirical results reveal that the global carbon Shadow price is increasing by around 2.24% per annum and reached 2845 US dollars per ton in 2011. Regional carbon Shadow Prices present significant disparities and evolve within different categories over the analyzed period. We find a substantial sigma convergence process of carbon Shadow Prices among countries during 1990–2007 while divergence appears after the global financial crisis. We then analyze the relationship between carbon Shadow Prices and the implementation of the Kyoto Protocol.

Virginia Maclaren - One of the best experts on this subject based on the ideXlab platform.

  • Shadow Prices of environmental outputs and production efficiency of household level paper recycling units in vietnam
    Ecological Economics, 2008
    Co-Authors: Nguyen Van Ha, Shashi Kant, Virginia Maclaren
    Abstract:

    The production efficiency and Shadow Prices of three environmental outputs (BOD, COD, and SS) of 63 household-level paper-recycling units, from a recycling craft village in Vietnam, are assessed A two-stage procedure, linear programming and stochastic estimation, is used to estimate output distance function. Social capital as a production factor and environmental outputs are included in the output distance function. Results indicate that production efficiencies could potentially be improved by 28%. There is a substantial variation in the Shadow Prices of environmental outputs among the production units of different types of paper products. Furthermore, the average Shadow Prices of the three environmental outputs are all positive. This indicates a potential for improving environmental quality though introducing pollution-prevention methods to paper-recycling production processes in Vietnam (e.g., recirculation of wastewater), and suggests that it may be inappropriate to restrict the Shadow Prices of environmental outputs to be non-positive for the analysis of some production processes.

  • relative Shadow Prices of social capital for household level paper recycling units in vietnam
    Ecological Economics, 2006
    Co-Authors: Nguyen Van Ha, Shashi Kant, Virginia Maclaren
    Abstract:

    Abstract This study employs a parametric deterministic input distance function for computing the relative Shadow Prices of social capital with respect to physical capital and labor for household-level paper-recycling units in Vietnam. The results indicate that social capital has positive effects on the production efficiency of paper-recycling units. More specifically, the contribution of a 1% increase in social capital to production efficiency improvements is much greater than that of one million Vietnamese dong of physical capital, but less than that of 100 worker-hours of labor. Furthermore, associational activity and trust are the most valuable out of the four components of social capital and an increase of 1% in the measures of associational activity and trust is equal to an increase of US$364.936 and US$337.103 in the value of physical capital, respectively. The results also indicate that the relative Shadow Prices of the reciprocity and associational activity measures are highest for the lowest income group; whereas those of trust and information sharing are highest among the higher income groups.

Ernest Reigmartinez - One of the best experts on this subject based on the ideXlab platform.

  • the calculation of Shadow Prices for industrial wastes using distance functions an analysis for spanish ceramic pavements firms
    International Journal of Production Economics, 2001
    Co-Authors: Andres J Picazotadeo, Ernest Reigmartinez, Francesc Hernandezsancho
    Abstract:

    Abstract This paper deals with the calculation of Shadow Prices for two industrial wastes generated on their production processes by 18 firms belonging to the Spanish ceramic pavements industry. These Prices are then used to calculate an extended productivity index which takes into consideration wastes going with the production of marketable goods. We follow the methodological approach first proposed by Fare et al. (The Review of Economics and Statistics 75 (1993)). A negative correlation is found between absolute Shadow Prices and wastes production intensity, reflecting a greater marginal cost of eliminating wastes for those firms using less contaminant production processes. Differences between a conventional labour productivity index and an extended productivity index are also statistically related to firms characteristics such as size, previous investments in cleaner technologies and affiliation to a Technological Institute.

Jean-philippe Boussemart - One of the best experts on this subject based on the ideXlab platform.

  • worldwide carbon Shadow Prices during 1990 2011
    Energy Policy, 2017
    Co-Authors: Jean-philippe Boussemart, Hervé Leleu, Zhiyang Shen
    Abstract:

    Unlike most previous research, which has focused on estimating carbon Shadow Prices at regional or sectoral levels, this paper attempts to estimate carbon Shadow Prices at a worldwide level. A non-parametric robust framework estimates carbon Shadow Prices for 119 countries from all continents in 12 large groups. Our empirical results reveal that the global carbon Shadow price is increasing by around 2.24% per annum and reached 2845 US dollars per ton in 2011. Regional carbon Shadow Prices present significant disparities and evolve within different categories over the analyzed period. We find a substantial sigma convergence process of carbon Shadow Prices among countries during 1990–2007 while divergence appears after the global financial crisis. We then analyze the relationship between carbon Shadow Prices and the implementation of the Kyoto Protocol.

  • Worldwide carbon Shadow Prices during 1990–2011
    Energy Policy, 2017
    Co-Authors: Jean-philippe Boussemart, Hervé Leleu, Zhiyang Shen
    Abstract:

    Unlike most previous research, which has focused on estimating carbon Shadow Prices at regional or sectoral levels, this paper attempts to estimate carbon Shadow Prices at a worldwide level. A non-parametric robust framework estimates carbon Shadow Prices for 119 countries from all continents in 12 large groups. Our empirical results reveal that the global carbon Shadow price is increasing by around 2.24% per annum and reached 2845 US dollars per ton in 2011. Regional carbon Shadow Prices present significant disparities and evolve within different categories over the analyzed period. We find a substantial sigma convergence process of carbon Shadow Prices among countries during 1990–2007 while divergence appears after the global financial crisis. We then analyze the relationship between carbon Shadow Prices and the implementation of the Kyoto Protocol.