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DTSTAMP:20260711T000144Z
DESCRIPTION:\n	Dynamic Games and Applications Seminar\n\n	Speaker: Francisco 
 Cabo – Universidad de Valladolid\, Spain \n\n	\n\n	Abstract: In this paper w
 e consider an industry where firms which compete à la Cournot are divided 
 into green and brown firms. Firms are motivated to be green by the willing
 ness of consumers to pay a premium price for green products. However\, bei
 ng green requires some 'sacrifice' compared to the business as usual: a pr
 oduction practice more considerate of the environment and/or an attitude t
 owards firms' contribution to the global environmental damage caused by th
 eir production activity. We consider three different definitions of being 
 green. In the first case\, individual green firms adopt a cleaner but more
  expensive production technology (Green Tech)\; in the second case\, green
  firms further to adopting a more expensive and less polluting technology 
 form a cartel and control the price (Green Cartel)\; finally\, green firms
  also recognize that\, as a group\, they have an impact on the accumulated
  pollution (Green Club). Firms can change behavior over time based on the 
 relative performance of the other group. This performance is defined by th
 e value function of a differential game played from this given time on pla
 ying either like green or brown firm. We first analyze the conditions unde
 r which different equilibrium market compositions can be observed\, namely
  only brown\, only green\, or a mix of brown and green firms. We then look
  at the environmental and economic consequences of each of the three possi
 ble market composition and compare them for the three different definition
 s of being green to understand which 'type' of green is better and under w
 hat conditions.\n\n	(with Lucia Sbragia)\n\n
DTSTART:20221020T150000Z
DTEND:20221020T160000Z
LOCATION:CA\, ZOOM
SUMMARY:Environmental and Economic Consequences of a Market with Green and 
 Brown Firms
URL:/cim/channels/event/environmental-and-economic-con
 sequences-market-green-and-brown-firms-351855
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