Assaf, A. George; Josiassen, Alexander; Gillen, David - In: Journal of Business Research 67 (2014) 6, pp. 1249-1256
Set in the airport industry, this paper measures firm performance using both desirable and bad outputs (i.e. airport … included in the model. The differences reflect the resource cost to society and the potential cost to an airport if such … externalities were internalized. Finally, the paper provides measures of shadow prices for the bad output, in our case airport delay …