By Stefan Baumgärtner , Malte Faber , Johannes Schiller
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Extra resources for Joint Production And Responsibility In Ecological Economics On the Foundations of Environmental Policy
This deﬁnition may be interpreted as follows. Output k is a joint product of output j if it is not possible to reduce the amount produced of good k while at the same time not reducing output j and keeping constant the roles of all other goods as inputs or outputs. Joint production and the concept of externality Within the context of an economic analysis of environmental problems (Baumol and Oates 1988, Hanley et al. 1997, Kolstad 2000, Siebert 2004, Tietenberg 2003) joint production is typically modelled in an implicit way – using the economic concept of externality (for example by Malinvaud 1985: 232).
The time horizon τ determines the time span over which the diﬀerent outputs are aggregated. Thereby, our notion of joint production is very encompassing. 7 reduces to a notion of joint production in which diﬀerent outputs leave the production system simultaneously in t0 . 7 covers the case that outputs which are necessarily produced together leave the system at diﬀerent points in time. In the extreme case, τ = T , where T is the system’s remaining lifetime, all outputs that ever leave the system are being considered.
4. Bailey and Friedlaender (1982) give a survey of the literature. The theoretical side has been most fully expounded by Baumol et al. (1988). 5. If a complete separation is possible, that is C(y1 , . . , yn ) = C1 (y1 )+. +Cn (yn ), a multi-product ﬁrm is characterised by multiple, yet independent production. See Nehring and Puppe (2004) for a more general discussion of the implications of joint production for the structure of the cost function. 6. The idea of deﬁning joint production in terms of a ﬁrm’s costs of production goes back to Alfred Marshall (1925: 388), who deﬁnes: When two or more things are produced by one and the same process; so that the expenses of producing them all together are not greater than the expenses of producing one of them alone would be; then these things are called joint products.
Joint Production And Responsibility In Ecological Economics On the Foundations of Environmental Policy by Stefan Baumgärtner , Malte Faber , Johannes Schiller