Joint Production And Responsibility In Ecological Economics by Stefan Baumgärtner , Malte Faber , Johannes Schiller

By Stefan Baumgärtner , Malte Faber , Johannes Schiller

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Additional resources for Joint Production And Responsibility In Ecological Economics On the Foundations of Environmental Policy

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Let us think of A and B as two firms. Firm A’s activity brings forward a polluting joint product which negatively influences the activity of firm B. This interaction can be modelled using the following production functions yA = f A (x1 ), yB = f B (x2 , yA ) with ∂f B < 0, ∂yA in which x1 and x2 are any inputs of the two firms, and yA and yB are the outputs of A and B respectively. 8 Downloaded from Elgar Online by University of Melbourne at 07/12/2013 10:00:59AM Joint Production and Responsibility in Ecological Economics 24 Hence, without affected economic agents and their valuation of the effect, an externality does not exist.

4 Within this literature, a multi-output firm that produces n different outputs in quantities y1 , . . , yn is typically described by a cost function C(y1 , . . , yn ). The special case in which the cost function is not completely separable in functions which only depend on one output variable, that is C(y1 , . . , yn ) ≡ C1 (y1 ) + . . 5 , 6 This conceptualisation poses the following problem as far as the description of a technical phenomenon such as joint production is concerned. The cost function is the dual (value-based) description of the firm’s production possibilities, with the production function being the associated primal (real) concept.

1, this boundary is spatial and temporal. From an applied point of view, a system’s boundary is often specified in functional terms (for example by Dyckhoff 1996a: 176). 10 With the system specified, the system’s properties and behaviour are determined by two classes of interactions: endogenous and exogenous interactions. 2. (a) An endogenous interaction is an interaction among endogenous elements of a system. (b) An exogenous interaction is an influence from an exogenous element on an endogenous element of a system.

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