Optimal Strategies of Product Price, Quality, and Corporate Environmental Responsibility.

Clicks: 256
ID: 69147
2019
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Ranked #556 of 862 articles by views in International journal of environmental research and public health

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Abstract
With the awakening of environmental consciousness, more and more firms desire to go "green" by shifting their focus of corporate social responsibility (CSR) from charitable contributions to environmental actions called corporate environmental responsibility (CER). We develop a monopoly differential game to depict optimal corporate strategies of product price, quality, and CER. Using the Hamilton-Jacobi-Bellman (HJB) equation, we analyze optimal feedback equilibrium strategies for pricing and investing in both quality and CER with/without government subsidies. Numerical simulations show that government subsidy can improve CER and profit.
Reference Key
peng2019optimalinternational Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Peng, Wei;Xin, Baogui;Kwon, Yekyung;
Journal International journal of environmental research and public health
Year 2019
DOI
E4704
URL
Keywords
social welfare corporate environmental responsibility (cer) corporate social responsibility (csr) feedback equilibrium government subsidy

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