Developing Evaluation Models of Environmental Policies under Ambiguity by using Real Options Approach and Their Applications
| Project/Area Number |
18K01714
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Review Section |
Basic Section 07060:Money and finance-related
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| Research Institution | Doshisha University |
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Principal Investigator |
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| Project Period (FY) |
2018-04-01 – 2022-03-31
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| Project Status |
Completed (Fiscal Year 2021)
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| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2020: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2019: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2018: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Keywords | リアルオプション / 曖昧性 / 確率制御 / 確率インパルス制御 / 技術進歩 / ロバスト制御 / 資本投資 / 配当政策 / 環境政策 |
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| Outline of Final Research Achievements |
The main research findings over the entire research period are (1) pollutant reduction policies and (2) firm's capital investment. (1) Tsujimura (2020a) formulated the problem of policy maker as a singular stochastic control problem or stochastic impulse control problem, considering proportional cost or fixed and proportional cost for the implementation cost of pollutant reduction policy. The results of the analysis indicate the optimal timing and scale of pollutant reduction. (2) Tsujimura (2019, 2020b, 2021a, 2021b) considered capital expansion and contraction problems for firm's capital investment policies, considering demand ambiguity and investment cost risk. They analyzed the firm's problem as singular stochastic control problem or stochastic impulse control problem and showed optimal capital investment policies.
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| Academic Significance and Societal Importance of the Research Achievements |
リアルオプション・アプローチを用いた曖昧性を考慮した環境政策の分析は，研究蓄積が待たれている分野である。理論モデルを開発し，定量的・定性的に曖昧性の影響を明らかにして，現実の環境政策への示唆を与えられれば，学術的に意義のある研究となりうる。また，環境政策に対する政策議論が世界各国で繰り広げられており，新たな環境政策に対する評価モデルが必要とされており，本研究課題で開発されたモデルを応用し，気候変動のような地球規模の環境政策に対する評価モデルを提示することが出来れば，社会の持続可能な発展に対して環境政策面での貢献が可能となり，社会的な意義も期待される。
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Report
(5 results)
Research Products
(24 results)
