Hampf, Benjamin (2015)
Estimating the Materials Balance Condition: A Stochastic Frontier Approach.
In: Darmstadt Discussion Papers in Economics, (226)
Article, Primary publication
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Item Type: | Article | ||||
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Type of entry: | Primary publication | ||||
Title: | Estimating the Materials Balance Condition: A Stochastic Frontier Approach | ||||
Language: | English | ||||
Date: | 17 April 2015 | ||||
Journal or Publication Title: | Darmstadt Discussion Papers in Economics | ||||
Issue Number: | 226 | ||||
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. |
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URN: | urn:nbn:de:tuda-tuprints-46990 | ||||
Additional Information: | JEL classification: Q53, C51, Q40, D24 |
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Classification DDC: | 300 Sozialwissenschaften > 330 Wirtschaft | ||||
Divisions: | 01 Department of Law and Economics 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > Emprical Economics |
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Date Deposited: | 20 Apr 2015 15:25 | ||||
Last Modified: | 10 Mar 2016 10:44 | ||||
URI: | https://tuprints.ulb.tu-darmstadt.de/id/eprint/4699 | ||||
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