The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade
Under low carbon environment, a multi-period emissions reduction problem for manufacturer is investigated in the paper, where we assume that the government sets mandatory carbon emissions limit to all the enterprises by free of charge and allows the carbon emission quota to be traded or banked inter...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Wiley
2019-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2019/6987132 |
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| _version_ | 1832549637673713664 |
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| author | Baiyun Yuan Bingmei Gu Chunming Xu |
| author_facet | Baiyun Yuan Bingmei Gu Chunming Xu |
| author_sort | Baiyun Yuan |
| collection | DOAJ |
| description | Under low carbon environment, a multi-period emissions reduction problem for manufacturer is investigated in the paper, where we assume that the government sets mandatory carbon emissions limit to all the enterprises by free of charge and allows the carbon emission quota to be traded or banked inter-temporally in the carbon trading market. Using discrete-time optimal control theory, the optimal emission reduction strategies for each period are firstly explored for maximizing the sum of net profit under cap-and-trade. The optimal carbon emissions, permit trading quantity, and the number of buying Certified Emission Reduction (CER) are obtained in each period. Furthermore, the effects of carbon price and initial carbon quota given by the government on the firm’s emission reduction strategies are discussed. Finally, numerical examples are illustrated to verify the proposed model, and some managerial inferences for a multi-period emission reduction are provided in conclusions. |
| format | Article |
| id | doaj-art-297a32d002f24eb9af691c01b5ce8353 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2019-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-297a32d002f24eb9af691c01b5ce83532025-02-03T06:10:49ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2019-01-01201910.1155/2019/69871326987132The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-TradeBaiyun Yuan0Bingmei Gu1Chunming Xu2Research Center of Energy Economy, School of Business Administration, Henan Polytechnic University, Jiaozuo 454000, ChinaSchool of Management, Shanghai University, Shanghai 200444, ChinaDepartment of Mathematics, College of Science, Tianjin University of Technology, Tianjin 300384, ChinaUnder low carbon environment, a multi-period emissions reduction problem for manufacturer is investigated in the paper, where we assume that the government sets mandatory carbon emissions limit to all the enterprises by free of charge and allows the carbon emission quota to be traded or banked inter-temporally in the carbon trading market. Using discrete-time optimal control theory, the optimal emission reduction strategies for each period are firstly explored for maximizing the sum of net profit under cap-and-trade. The optimal carbon emissions, permit trading quantity, and the number of buying Certified Emission Reduction (CER) are obtained in each period. Furthermore, the effects of carbon price and initial carbon quota given by the government on the firm’s emission reduction strategies are discussed. Finally, numerical examples are illustrated to verify the proposed model, and some managerial inferences for a multi-period emission reduction are provided in conclusions.http://dx.doi.org/10.1155/2019/6987132 |
| spellingShingle | Baiyun Yuan Bingmei Gu Chunming Xu The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade Discrete Dynamics in Nature and Society |
| title | The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade |
| title_full | The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade |
| title_fullStr | The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade |
| title_full_unstemmed | The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade |
| title_short | The Multi-Period Dynamic Optimization with Carbon Emissions Reduction under Cap-and-Trade |
| title_sort | multi period dynamic optimization with carbon emissions reduction under cap and trade |
| url | http://dx.doi.org/10.1155/2019/6987132 |
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