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Firms’ production and green technology strategies: The role of emission asymmetry and carbon taxes
European Journal of Operational Research ( IF 6.4 ) Pub Date : 2022-06-16 , DOI: 10.1016/j.ejor.2022.06.024
Ke Fu , Yanzhi Li , Huiqiang Mao , Zhaowei Miao

Firms in major polluting industries have different carbon intensities. The degree of emission asymmetry varies in different industries. In some industries, the carbon intensity of some firms may be several times higher than that of others. Yet surprisingly, emission asymmetry has been largely ignored in the literature. In this paper, we adopt a game-theoretical framework that incorporates emission asymmetry with a carbon tax and imperfect competition. We show that emission asymmetry plays a key role in shaping firms’ production and investment decisions toward green technologies. Due to emission asymmetry, among other factors, a carbon tax does not necessarily induce the adoption of green technology. Nevertheless, upon the introduction of a carbon tax, the carbon-inefficient firm is more likely to benefit from the green technology than the carbon-efficient firm because the green technology can mitigate or even eliminate the initial emission asymmetry. This might be an important driver for firms to further invest in new technology to have an edge over their rivals. One particularly compelling insight is that besides social welfare, industry profit may also improve upon the introduction of a carbon tax if it is properly enacted. Our findings therefore provide renewed support for alleviation of the economic concerns of governments as well as businesses and the general public about the impact of tightening environmental regulations. Policymakers may also foster green technology through well-designed carbon regulations.



中文翻译:

企业的生产和绿色技术战略:排放不对称和碳税的作用

主要污染行业的企业具有不同的碳强度。排放不对称程度因行业而异。在某些行业,某些企业的碳强度可能比其他企业高数倍。然而令人惊讶的是,文献中基本上忽略了发射不对称性。在本文中,我们采用博弈论框架,将排放不对称与碳税和不完全竞争结合起来。我们表明,排放不对称在塑造企业对绿色技术的生产和投资决策方面起着关键作用。由于排放不对称等因素,碳税不一定会导致采用绿色技术。然而,在引入碳税后,碳效率低下的公司比碳效率高的公司更有可能从绿色技术中受益,因为绿色技术可以减轻甚至消除初始排放的不对称性。这可能是公司进一步投资新技术以超越竞争对手的重要驱动力。一个特别引人注目的见解是,如果实施得当,除了社会福利外,行业利润也可能会随着碳税的引入而提高。因此,我们的研究结果为减轻政府、企业和公众对收紧环境法规影响的经济担忧提供了新的支持。政策制定者还可以通过精心设计的碳排放法规来培育绿色技术。

更新日期:2022-06-16
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