Weak complementarity and production |
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| Authors: | Ju-Chin Huang V. Kerry Smith |
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| Affiliation: | aDepartment of Economics, University of New Hampshire, Durham, NH 03824, USA;bDepartment of Economics, Duke University, Durham, NC 27708, USA;cResources for the Future, Washington, DC 20036, USA |
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| Abstract: | This paper describes how weak complementarity, a common assumption to characterize consumer preferences for recovering measures of willingness to pay for nonmarketed environmental resources, can be used to evaluate the effects of pollution that may affect profits or costs. In such cases, pollution serves as an externality imposed by third parties on production activities. |
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| Keywords: | Quasi-rents Externalities Production losses Weak complementarity |
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