Project Management

On The Theory Of A Firm: The Case Of By-Production Of Emissions

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Executive Summary

Five attributes of emission generating technologies are identified and a concept of by production is introduced, which implies these five attributes. Murty and Russell [2010] characterization of technologies, which requires distinguishing between intended production of firms and nature's laws of emission generation, is shown to be both necessary and sufficient for by-production. While intended production could be postulated to satisfy standard input and output free-disposability, these will necessarily be violated by nature's emission generation mechanism, which satisfies costly disposability of emission as defined in Murty [2010]. Marginal technical and economic costs of abatement are derived for technologies exhibiting by-production.

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