Price ambivalence of secondary resources: joint production, limits to substitution, and costly disposal

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Price ambivalence of secondary resources: joint production, limits to substitution, and costly disposal. / Baumgärtner, Stefan.
In: Resources, Conservation and Recycling, Vol. 43, No. 1, 01.12.2004, p. 95-117.

Research output: Journal contributionsJournal articlesResearchpeer-review

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@article{45d7427be7bd40da94ca6a1c3164a641,
title = "Price ambivalence of secondary resources: joint production, limits to substitution, and costly disposal",
abstract = "The paper studies price ambivalence of secondary resources based on the model of a vertically integrated two-sector economy with resources and waste. It is shown that even for preferences, technology and waste damage function satisfying standard assumptions, in particular,monotonicity and convexity, both the efficient shadow price and the competitive equilibrium price of the secondary resource may be positive, zero or negative. Rigidities in the supply of the secondary resource, limits to substitution between the primary and the secondary resource, and costly disposal are identified as crucial for this result. Empirical evidence of price ambivalence comes from the German spot market for waste paper. {\textcopyright} 2004 Elsevier B.V. All rights reserved.",
keywords = "Sustainability sciences, Management & Economics, ambivalence, costly disposal, joint production, limits to substitution, primary and secondary resources, waste paper",
author = "Stefan Baumg{\"a}rtner",
year = "2004",
month = dec,
day = "1",
doi = "10.1016/j.resconrec.2004.04.013",
language = "English",
volume = "43",
pages = "95--117",
journal = "Resources, Conservation and Recycling",
issn = "0921-3449",
publisher = "Elsevier B.V.",
number = "1",

}

RIS

TY - JOUR

T1 - Price ambivalence of secondary resources

T2 - joint production, limits to substitution, and costly disposal

AU - Baumgärtner, Stefan

PY - 2004/12/1

Y1 - 2004/12/1

N2 - The paper studies price ambivalence of secondary resources based on the model of a vertically integrated two-sector economy with resources and waste. It is shown that even for preferences, technology and waste damage function satisfying standard assumptions, in particular,monotonicity and convexity, both the efficient shadow price and the competitive equilibrium price of the secondary resource may be positive, zero or negative. Rigidities in the supply of the secondary resource, limits to substitution between the primary and the secondary resource, and costly disposal are identified as crucial for this result. Empirical evidence of price ambivalence comes from the German spot market for waste paper. © 2004 Elsevier B.V. All rights reserved.

AB - The paper studies price ambivalence of secondary resources based on the model of a vertically integrated two-sector economy with resources and waste. It is shown that even for preferences, technology and waste damage function satisfying standard assumptions, in particular,monotonicity and convexity, both the efficient shadow price and the competitive equilibrium price of the secondary resource may be positive, zero or negative. Rigidities in the supply of the secondary resource, limits to substitution between the primary and the secondary resource, and costly disposal are identified as crucial for this result. Empirical evidence of price ambivalence comes from the German spot market for waste paper. © 2004 Elsevier B.V. All rights reserved.

KW - Sustainability sciences, Management & Economics

KW - ambivalence

KW - costly disposal

KW - joint production

KW - limits to substitution

KW - primary and secondary resources

KW - waste paper

UR - http://www.scopus.com/inward/record.url?scp=7444236541&partnerID=8YFLogxK

UR - https://www.mendeley.com/catalogue/81803a0b-a9b9-37ec-b91f-384818d4c392/

U2 - 10.1016/j.resconrec.2004.04.013

DO - 10.1016/j.resconrec.2004.04.013

M3 - Journal articles

VL - 43

SP - 95

EP - 117

JO - Resources, Conservation and Recycling

JF - Resources, Conservation and Recycling

SN - 0921-3449

IS - 1

ER -