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Title: Matter-dependent production functions for economic modelling of firms
Authors: MAES, Dries 
Issue Date: 2013
Source: Ecological Economics and Institutional Dynamics : 10th biennal conference of the European Society for Ecological Economics, Lille - France, 17-06-2013 21-06-2013
Abstract: Environmental economic models often integrate economic parameters such as labour and capital with physical parameters such as energy, emissions or materials. These models show both market behaviour and effects on the environment. A central instrument is the particular production function that relates inputs to outputs. However, the characteristic behaviour of matter and energy is subject to different constraints than the behaviour of labour and capital. Very few economic production functions take that difference into account. This project develops a new economic production function for micro-economic modelling, based on a maximum installed capacity of transformation. Following economic and physical constraints of production functions, an algebraic form is derived. It is tested with a case-study. Secondly the modelling behaviour is compared to a standard function.
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Category: C2
Type: Conference Material
Appears in Collections:Research publications

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