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Estimating the Materials Balance Condition: A Stochastic Frontier Approach

Hampf, Benjamin (2015)
Estimating the Materials Balance Condition: A Stochastic Frontier Approach.
In: Darmstadt Discussion Papers in Economics, (226)
Artikel, Erstveröffentlichung

Kurzbeschreibung (Abstract)

In this paper we propose a stochastic formulation of the materials balance condition which imposes physical constraints on production technologies. The estimation of the model involves a composed error term structure that is commonly applied in the literature on stochastic frontier analysis of productive effciency. Moreover, we discuss how OLS, maximum likelihood and Bayesian methods can be used to estimate the proposed model. In contrast to previous approaches our model allows to estimate the physical limitations to production possibilities in the presence of statistical noise and depends on substantially weaker data requirements. We demonstrate the applicability of our new approach by estimating the materials balance cndition for SO2 and CO2 using a sample of fossil-fueled power plants in the United States.

Typ des Eintrags: Artikel
Erschienen: 2015
Autor(en): Hampf, Benjamin
Art des Eintrags: Erstveröffentlichung
Titel: Estimating the Materials Balance Condition: A Stochastic Frontier Approach
Sprache: Englisch
Publikationsjahr: 17 April 2015
Titel der Zeitschrift, Zeitung oder Schriftenreihe: Darmstadt Discussion Papers in Economics
(Heft-)Nummer: 226
URL / URN: http://tuprints.ulb.tu-darmstadt.de/4699
Kurzbeschreibung (Abstract):

In this paper we propose a stochastic formulation of the materials balance condition which imposes physical constraints on production technologies. The estimation of the model involves a composed error term structure that is commonly applied in the literature on stochastic frontier analysis of productive effciency. Moreover, we discuss how OLS, maximum likelihood and Bayesian methods can be used to estimate the proposed model. In contrast to previous approaches our model allows to estimate the physical limitations to production possibilities in the presence of statistical noise and depends on substantially weaker data requirements. We demonstrate the applicability of our new approach by estimating the materials balance cndition for SO2 and CO2 using a sample of fossil-fueled power plants in the United States.

Alternatives oder übersetztes Abstract:
Alternatives AbstractSprache

In this paper we propose a stochastic formulation of the materials balance condition which imposes physical constraints on production technologies. The estimation of the model involves a composed error term structure that is commonly applied in the literature on stochastic frontier analysis of productive effciency. Moreover, we discuss how OLS, maximum likelihood and Bayesian methods can be used to estimate the proposed model. In contrast to previous approaches our model allows to estimate the physical limitations to production possibilities in the presence of statistical noise and depends on substantially weaker data requirements. We demonstrate the applicability of our new approach by estimating the materials balance cndition for SO2 and CO2 using a sample of fossil-fueled power plants in the United States.

Englisch
Schlagworte:
Einzelne SchlagworteSprache
Materials balance condition; Abatement effciency; Stochastic frontier analysis; Laws of thermodynamics; Applied econometrics; Environmental economicsEnglisch
URN: urn:nbn:de:tuda-tuprints-46990
Zusätzliche Informationen:

JEL classification: Q53, C51, Q40, D24

Sachgruppe der Dewey Dezimalklassifikatin (DDC): 300 Sozialwissenschaften > 330 Wirtschaft
Fachbereich(e)/-gebiet(e): 01 Fachbereich Rechts- und Wirtschaftswissenschaften
01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete
01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Empirische Wirtschaftsforschung
Hinterlegungsdatum: 13 Mär 2016 20:55
Letzte Änderung: 29 Mai 2016 21:19
PPN:
Schlagworte:
Einzelne SchlagworteSprache
Materials balance condition; Abatement effciency; Stochastic frontier analysis; Laws of thermodynamics; Applied econometrics; Environmental economicsEnglisch
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