Weak Complementarity and Quasi Rents

Ju-Chin Huang and V. Smith

No 95-23, Working Papers from Duke University, Department of Economics

Abstract: 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.

JEL-codes: D24 H23 H41 (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:duk:dukeec:95-23

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