ESTIMATING SHADOW PRICES OF WASTEWATER POLLUTANTS IN SLOVAKIA
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The study aims to estimate shadow prices of environmental pollutants in wastewater which can under the assumption of optimal pollution levels be interpreted as environmental benefits gained from the treatment process. A directional output distance function model uses a sample of 57 medium-sized Slovak wastewater treatment plants to estimate the shadow prices for nitrogen, phosphorus, suspended solids and chemical oxygen demand. Total estimated value represents the costs avoided through undischarged pollution. Obtained shadow prices can be used in the future cost-benefits analyses of wastewater treatment investment projects.
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