报告题目：Subsidies for Green Technology Adoption under Uncertain Demand and Incomplete Information
报告人：郑士源 教授
邀请人：蒙秋男 副教授
时间及地点：2023年04月26日（周三），11:00-12:00，经管学院B312
报告摘要：
In order to encourage manufacturers to replace traditional high-emission equipment with new ones powered by green technology, alternative regulations, notably equipment subsidy policy (ESP) and operation subsidy policy (OSP), have been proposed to align manufacturers’ decisions with governments’ objectives. This study investigates manufacturers’ timing decisions to adopt green technology under ESP and OSP. In our study the market demand is dynamically stochastic, and the certain demand promotion is observable only by the manufacturer and can be promoted by inserting costly effort. A principal-agent model is developed in which the regulation on the adoption timing is specified as a call option exercised by the government and constrained by the manufacturer’s incentive compatibility (IC), participation constraint (PC), ex ante IC, and ex ante PC. We find that the optimal subsidy policies exhibit stepwise structures, which depend solely on the demand promotion under complete information, and on the demand promotion as well as the manufacturer’s effort cost under incomplete information. The optimal ESP and OSP are equivalent under complete information. Under incomplete information, these two policies lead to the same adoption timing if the demand is high, although ESP may require a larger subsidy budget. Otherwise, ESP promotes earlier adoption than OSP.
人物介绍：
郑士源，男，汉族，博士，现任上海海事大学交通运输学院教授，研究方向为交通运输经济分析，担任全国交通院校工作委员会第一届委员，世界交通大会（WTC）水运学部技术委员会委员等职。主持和参与多项国家自然科学基金和社会科学基金项目。出版专著4本，发表学术论文70余篇，其中SCI/SSCI论文40篇，发表在Transportation Research Part A，Part B，Part C，Part D，Part E，Omega，International Journal of Production Economics，Maritime Policy and Management等交通领域的权威期刊。
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