One of the mysteries of the English language finally explained.
The estimated price of a good or service for which no market price exists.
- ‘It is easy to construct numerical examples indicating that the answer to the first question is in general negative, though there are some special cases in which, despite distortions, market and shadow prices coincide.’
- ‘For unpaid work, such as housework, costs were estimated at a shadow price of 7.94 an hour.’
- ‘The price of ‘grey shares’ - the shadow price before the listing - went as high as 300p.’
- ‘In the case of our nitrogen-constrained model, the shadow price per pound of nitrogen runoff reduction was $3.25.’
- ‘The second feature is the high degree of variability of an input shadow price across estates (as indicated by the standard deviations and coefficients of variation).’
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