Estimating accounting prices for common pool natural resources: A distance function approach

摘要: [1] We extend existing methodology for estimating shadow prices exhaustible natural resources to renewable with common pool characteristics, using groundwater in irrigated agriculture as an example. The resource's price is defined terms of a perfect foresight open loop Nash equilibrium. Furthermore, we introduce new estimation approach and derive scarcity rents by stochastic restricted distance function duality results between cost functions. This appropriate when information not available or cost, profit, revenue functions representations are precluded because violations the required behavior assumptions. We use our study policy implications management.