Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.03.018 |
Green Investment and Coordination Failure: An Investors' Perspective | |
Mielke, Jahel1,2; Steudle, Gesine A.1 | |
2018-08-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 150页码:88-95 |
文章类型 | Article |
语种 | 英语 |
国家 | Germany |
英文摘要 | To achieve the goal of keeping global warming well below 2 degrees C, private investors have to shift capital from brown to green infrastructures and technologies and provide additional green investment. In this paper, we present a game-theoretic perspective on the challenge of triggering such investments. The question of climate change mitigation is often related to the prisoner's dilemma, a game with one Nash equilibrium. However, the authors perceive investment for mitigation and adaptation as a coordination problem of selecting among multiple equilibria. To illustrate this, we model a non-cooperative coordination game, related to the stag hunt, with a brown equilibrium with lower payoffs that can be achieved single-handedly and a green equilibrium with higher payoffs that requires coordination. As multiple experiments show, in such games actors often fail to coordinate on a payoff dominant equilibrium due to uncertainty. Thus, we discuss how uncertainty could be reduced along two options: one that concerns a change in the payoff structure of the game and another that concerns subjective probabilities. |
英文关键词 | Stag hunt Coordination failure Green investment Strategic uncertainty Risk dominance |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000444364000008 |
WOS关键词 | EQUILIBRIUM SELECTION ; CLIMATE-CHANGE ; STRATEGIC UNCERTAINTY ; RISK DOMINANCE ; SOCIAL NORMS ; PUBLIC-GOODS ; GAME-THEORY ; STAG HUNT ; MODELS ; COMMUNICATION |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15422 |
专题 | 资源环境科学 |
作者单位 | 1.GCF, Berlin, Germany; 2.Univ Potsdam, Potsdam, Germany |
推荐引用方式 GB/T 7714 | Mielke, Jahel,Steudle, Gesine A.. Green Investment and Coordination Failure: An Investors' Perspective[J]. ECOLOGICAL ECONOMICS,2018,150:88-95. |
APA | Mielke, Jahel,&Steudle, Gesine A..(2018).Green Investment and Coordination Failure: An Investors' Perspective.ECOLOGICAL ECONOMICS,150,88-95. |
MLA | Mielke, Jahel,et al."Green Investment and Coordination Failure: An Investors' Perspective".ECOLOGICAL ECONOMICS 150(2018):88-95. |
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