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Weak Complementarity and Quasi Rents

Author

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  • Ju-Chin Huang
  • Smith, V. Kerry

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.

Suggested Citation

  • Ju-Chin Huang & Smith, V. Kerry, 1995. "Weak Complementarity and Quasi Rents," Working Papers 95-23, Duke University, Department of Economics.
    • Handle: RePEc:duk:dukeec:95-23
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    More about this item

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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