Optimal emission-dependent production policy with stochastic demand

Jing Jiang Zhang · Tengfei Nie · Shao Fu Du

57 citations0/0 files storedInternational Journal of Society Systems Science

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Supply Chain and Inventory Management Climate Change Policy and Economics Sustainable Supply Chain Management

Abstract

The paper addresses the issue of manufacturer’s optimal production policy under stochastic demand in an emission ‘cap and trade’ system, in which emission permit becomes another essential factor for production. Three typical sources of emission permits are considered, including emission quota allocated by the government, permits purchased via emission trading, and emission savings via purification. The emission-dependent manufacturer will balance a tradeoff to enable effective production and to determine an appropriate production scale to maximise expected profit. With these considerations in mind, two different cases of single- and multi-time purification are investigated respectively, and the optimal emission-dependent production models are proposed. Moreover, the existence and uniqueness of the optimal policy are guaranteed, and several valuable managerial insights are further concluded.

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References

2010The Economics of Climate Change 1995Environmental Regulation and the Competitiveness of U.S. Manufacturing: What Does the Evidence Tell Us?1995Transaction Costs and Tradeable Permits 2002Tradeable carbon permit auctions 1999Environmental Policy and Competitiveness: The Porter Hypothesis and the Composition of Capital

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