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A Stochastic Approach to Environmental Investment Problems with the Planar Impulse Control(Fostering Joint International Research)

Research Project

Project/Area Number 16KK0046
Research Category

Fund for the Promotion of Joint International Research (Fostering Joint International Research)

Allocation TypeMulti-year Fund
Research Field Social systems engineering/Safety system
Research InstitutionHokkaido University

Principal Investigator

Goto Makoto  北海道大学, 経済学研究院, 准教授 (30434286)

Project Period (FY) 2017 – 2019
Project Status Completed (Fiscal Year 2019)
Budget Amount *help
¥13,520,000 (Direct Cost: ¥10,400,000、Indirect Cost: ¥3,120,000)
Keywordsリアルオプション / 環境投資 / インパルス制御 / RPS / 環境政策 / 応用数学 / 確率論
Outline of Final Research Achievements

This research analyzes a policy decision problem of Renewable Portfolio Standards (RPS) in environmental investment problems. In particular, we have found the optimal investment timing and RPS target in terms of policy maker in the market where both non-renewable and renewable energy producers exist. Our main results are as follows: (1) High uncertainty delays the timing of policy change and gains RPS target; (2) if greenhouse gas emissions is less admissible, the policy maker decides higher RPS target sooner and consequently the supply of both energy producers are reduced.

Academic Significance and Societal Importance of the Research Achievements

本研究のモデルは,RPS目標値,企業の環境投資,社会的厚生の3つの相互作用を分析可能なモデルを構築し,市場均衡を保ちながら企業の環境投資と社会的厚生を最適化するRPS目標値を求めるものである.これによって,企業行動や市場均衡を踏まえて環境政策を定量的に評価することが可能となり,RPS目標値が極端に低かったために効果がみられず,本来有効な制度が廃止されるという事態の防止につながる.さらに,企業の競争環境,制度設計の不確実性を取り入れることで,モデルを拡張して環境政策の詳細な定量的評価を行なうことが可能になり,地球温暖化問題の解決への手掛かりとなり得る.

Report

(2 results)
  • 2019 Annual Research Report   Final Research Report ( PDF )
  • Research Products

    (5 results)

All 2020 2019 2018 Other

All Int'l Joint Research (1 results) Journal Article (1 results) Presentation (1 results) (of which Int'l Joint Research: 1 results) Book (1 results) Remarks (1 results)

  • [Int'l Joint Research] カリフォルニア大学サンタクルーズ校(米国)2018

    • Year and Date
      2018-04-03
    • Related Report
      2019 Annual Research Report
  • [Journal Article] A Note on Impulse Control with Outside Jumps2019

    • Author(s)
      Goto, M. and Kanagawa, S.
    • Journal Title

      京都大学数理解析研究所講究録

      Volume: 2111 Pages: 21-28

    • Related Report
      2019 Annual Research Report
  • [Presentation] Optimal Timing and Debt Ratio in Leveraged Buyouts2019

    • Author(s)
      Goto, M., Takashima, R. and Tsujimura, M.
    • Organizer
      23rd Annual International Real Options Conference
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Book] 投資戦略の数理モデル-リアルオプションの基礎と理論2020

    • Author(s)
      後藤允
    • Total Pages
      216
    • Publisher
      朝倉書店
    • ISBN
      9784254275742
    • Related Report
      2019 Annual Research Report
  • [Remarks] 北海道大学研究者総覧

    • URL

      https://researchers.general.hokudai.ac.jp/profile/ja.RpPTXxNY.pEWe3fjMQOADg==.html

    • Related Report
      2019 Annual Research Report

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Published: 2017-03-15   Modified: 2021-02-19  

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