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Shadow Price of Air Pollution Emissions in the Czech energy sector - Estimation from Distance Function
Rečka, Lukáš ; Ščasný, Milan (advisor) ; Klimešová, Andrea (referee)
This thesis employs a parametric input distance function that incorporates both desirable and undesirable outputs to provide a more complete representation of the production technology. Based on the Shephard (1970) theory of duality, we derive the shadow prices of undesirable outputs in the Czech energy sector on the data over the period 2002 - 2007. The medians of our shadow prices estimates are 8374, 1198, 2805, 6051 and 8549 € per ton of PM, SO2, NOx, CO and VOC, respectively. We decompose shadow prices estimates and test the hypotheses that the marginal abatement cost decline over time; that marginal abatement cost rice with the declining emission level; and that marginal abatement cost rice with declining emission rate. Key Words: shadow prices, distance function, undesirable outputs, marginal abatement cost JEL classification: C61, D24, Q53
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Shadow Price of Air Pollution Emissions in the Czech energy sector - Estimation from Distance Function
Rečka, Lukáš ; Ščasný, Milan (advisor) ; Klimešová, Andrea (referee)
This thesis employs a parametric input distance function that incorporates both desirable and undesirable outputs to provide a more complete representation of the production technology. Based on the Shephard (1970) theory of duality, we derive the shadow prices of undesirable outputs in the Czech energy sector on the data over the period 2002 - 2007. The medians of our shadow prices estimates are 8374, 1198, 2805, 6051 and 8549 € per ton of PM, SO2, NOx, CO and VOC, respectively. We decompose shadow prices estimates and test the hypotheses that the marginal abatement cost decline over time; that marginal abatement cost rice with the declining emission level; and that marginal abatement cost rice with declining emission rate. Key Words: shadow prices, distance function, undesirable outputs, marginal abatement cost JEL classification: C61, D24, Q53
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Analysis of reduced and shadow prices in linear programming problems with lower and upper bounds
Průšová, Lucie ; Jablonský, Josef (advisor) ; Kořenář, Václav (referee)
Abstract Title: Analysis of reduced and shadow prices in linear programming problems with lower and upper bounds. Author: Lucie Průšová Department: Department of Econometrics Supervisor: doc. Ing. Milada Lagová, CSc. This thesis deals with linear programming problems with additional requirements that values of variables are greater or lower than a specified bound. Where applicable, the variable is limited on both sides. These values are called the upper and lower bounds. Lower bound can be a minimum required number of manufactured products and upper bound a maximum permissible quantity of a substance in the mixture. The thesis contain a formulation of original LP problems with lower and upper bounds which are solved by standard simplex method and by its modification for bounded variables. The aim of this study is to analyze and compare the reduced costs and shadow prices in the mentioned class of problems. At the end there will summarize the results of this work.
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