时间：2021年11月5日（周五）下午1:30-3:00

线上腾讯会议号：542 327 859（无密码）

主持人：王焜（国际经济贸易学院国际运输与物流学系副教授）

讲座题目：Subsidies for Green Technology Adoption under Uncertain Demand and Incomplete Information

讲座摘要：In order to comply with strict emission controls, manufacturers in different industries are replacing traditional high-emission equipment with new ones powered by green technology. Alternative regulations, notably the equipment subsidy policy （ESP） and the 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, respectively. In our study the market demand consists of a public stochastic component and a private certain component, which is observable only by the manufacturer and can be promoted by his 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. Our results suggest that the optimal subsidy policies exhibit stepwise structures, which are dependent on the realization of demand under complete information, and dependent on both demand realization and 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 the ESP may require a larger subsidy budget. Otherwise the ESP promotes earlier adoption than the OSP. These results largely hold if a potential competitor’s market entry is also considered. Our study is applied to a case study of a chemical shipping company’s vessel replacement decisions.

讲座人简介：郑士源，毕业于上海交通大学安泰经管理学院管理科学与工程专业，博士学位，现任上海海事大学交通运输学院教授。研究领域为 “运输经济分析”、“港口运营管理”。 出版专著4本，在国际期刊发表学术论文30多篇，包括Transportation Research Part B，Part C，Part D，Part E，International Journal of Production Economics，Maritime Policy and Management等。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。主持社会科学基金项目1项，参与国家自然科学基金项目3项，主持和参与省部级项目多项。

讲座人主页：https://ctc.shmtu.edu.cn/2021/0106/c7427a63740/page.htm