In this paper, we attempt to quantify the shadow price of an additional inch of groundwater resource left in situ for the Southern Ogallala Aquifer. Previous authors have shown the degree to which the optimal resource...In this paper, we attempt to quantify the shadow price of an additional inch of groundwater resource left in situ for the Southern Ogallala Aquifer. Previous authors have shown the degree to which the optimal resource extraction path may diverge from the competitive extraction path based upon varying assumptions. We utilize high-quality data over an unconfined groundwater resource to evaluate the validity of these results. We find that the size of the existing groundwater resource is sufficiently small to result in a divergence between the competitive and socially optimal solutions. We are also able to confirm that the model responds to changes in the parameters in a manner consistent with previous research. Finally, we arrive at a marginal user cost for an additional acre-inch of water which is relatively low, but reasonable given uncertainty about future technological improvements.展开更多
The marginal abatement cost(MAC)of CO_(2)emissions is one of the most critical indicators used to assess energy conservation and emission reduction.Although extensively measured,few studies have incorporated the influ...The marginal abatement cost(MAC)of CO_(2)emissions is one of the most critical indicators used to assess energy conservation and emission reduction.Although extensively measured,few studies have incorporated the influence of policy constraints when evaluating MAC.To address this gap,this paper proposes a nonparametric directional distance function approach under policy regulations to estimate the CO_(2)shadow price in the construction industry across 30 Chinese provinces from 2010 to 2017.Based on this enhanced method,four key findings emerge:①the annual CO_(2)shadow price exhibits an overall upward trend during the observation period;②regional shadow prices display marked variation across provinces;③regional heterogeneity in shadow prices has increased steadily over time;and④both urbanization rate and energy consumption per unit of gross domestic product are significantly negatively correlated with the CO_(2)shadow price.Finally,the paper offers several policy recommendations for CO_(2)emissions reduction in the Chinese construction industry at the national,industry,and enterprise levels.展开更多
In this paper,the relation between the shadow price and the Lagrange multiplier for nonsmooth optimization problem is explored.It is obtained that the Lagrange multipliers are upper bounds of the shadow price for a co...In this paper,the relation between the shadow price and the Lagrange multiplier for nonsmooth optimization problem is explored.It is obtained that the Lagrange multipliers are upper bounds of the shadow price for a convex optimization problem and a class of Lipschtzian optimization problems.This result can be used in pricing mechanisms for nonsmooth situation.Several nonsmooth functions involved in this class of Lipschtzian optimizations are listed.Finally,an application to electricity pricing is discussed.展开更多
China is experienciug from serious water issues. There are many differences among the Nine Major Rivers basins of China in the construction of dikes, reservoirs, floodgates, flood discharge projects, flood diversion p...China is experienciug from serious water issues. There are many differences among the Nine Major Rivers basins of China in the construction of dikes, reservoirs, floodgates, flood discharge projects, flood diversion projects, water ecological constructions, water conservancy management, etc. The shadow prices of water resources for Nine Major Rivers can provide suggestions to the Chinese goverument. This article develops a dynamic shadow prices approach based on a multipeziod input-output optimizing model. Unlike previous approaches, the new model is based on the dynamic computable general equilibrium （DCGE） model to solve the problem of marginal long-term prices of water resources. First, definitions and algorithms of DCGE are elaborated. Second, the results of shadow prices of water resources for Nine Major Rivers in 1949-2050 in China using the National Water Conservancy input-holdiug-out in table for Nine Major Rivers in 1999 are listed. A conclusion of this article is that the shadow prices of water resources for Nine Major Rivers are largely based on the extent of scarcity. Selling prices of water resources should be revised via the usage of parameters representing shadow prices.展开更多
文摘In this paper, we attempt to quantify the shadow price of an additional inch of groundwater resource left in situ for the Southern Ogallala Aquifer. Previous authors have shown the degree to which the optimal resource extraction path may diverge from the competitive extraction path based upon varying assumptions. We utilize high-quality data over an unconfined groundwater resource to evaluate the validity of these results. We find that the size of the existing groundwater resource is sufficiently small to result in a divergence between the competitive and socially optimal solutions. We are also able to confirm that the model responds to changes in the parameters in a manner consistent with previous research. Finally, we arrive at a marginal user cost for an additional acre-inch of water which is relatively low, but reasonable given uncertainty about future technological improvements.
基金support of Dean Fund Project of the China National Institute of Standardization[Grant No.572025Y-12477]National Natural Science Foundation of China[Grant No.72204247].
文摘The marginal abatement cost(MAC)of CO_(2)emissions is one of the most critical indicators used to assess energy conservation and emission reduction.Although extensively measured,few studies have incorporated the influence of policy constraints when evaluating MAC.To address this gap,this paper proposes a nonparametric directional distance function approach under policy regulations to estimate the CO_(2)shadow price in the construction industry across 30 Chinese provinces from 2010 to 2017.Based on this enhanced method,four key findings emerge:①the annual CO_(2)shadow price exhibits an overall upward trend during the observation period;②regional shadow prices display marked variation across provinces;③regional heterogeneity in shadow prices has increased steadily over time;and④both urbanization rate and energy consumption per unit of gross domestic product are significantly negatively correlated with the CO_(2)shadow price.Finally,the paper offers several policy recommendations for CO_(2)emissions reduction in the Chinese construction industry at the national,industry,and enterprise levels.
基金supported by the National Natural Science Foundation of China(No.72071130).
文摘In this paper,the relation between the shadow price and the Lagrange multiplier for nonsmooth optimization problem is explored.It is obtained that the Lagrange multipliers are upper bounds of the shadow price for a convex optimization problem and a class of Lipschtzian optimization problems.This result can be used in pricing mechanisms for nonsmooth situation.Several nonsmooth functions involved in this class of Lipschtzian optimizations are listed.Finally,an application to electricity pricing is discussed.
基金National Nature Science Foundation of China(No.70472074.No.70131002.and No.60474063)China Postdoctoral Science Foundation.
文摘China is experienciug from serious water issues. There are many differences among the Nine Major Rivers basins of China in the construction of dikes, reservoirs, floodgates, flood discharge projects, flood diversion projects, water ecological constructions, water conservancy management, etc. The shadow prices of water resources for Nine Major Rivers can provide suggestions to the Chinese goverument. This article develops a dynamic shadow prices approach based on a multipeziod input-output optimizing model. Unlike previous approaches, the new model is based on the dynamic computable general equilibrium （DCGE） model to solve the problem of marginal long-term prices of water resources. First, definitions and algorithms of DCGE are elaborated. Second, the results of shadow prices of water resources for Nine Major Rivers in 1949-2050 in China using the National Water Conservancy input-holdiug-out in table for Nine Major Rivers in 1999 are listed. A conclusion of this article is that the shadow prices of water resources for Nine Major Rivers are largely based on the extent of scarcity. Selling prices of water resources should be revised via the usage of parameters representing shadow prices.
