Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/94567
DC Field | Value | Language |
---|---|---|
dc.contributor | Department of Industrial and Systems Engineering | - |
dc.creator | Zheng, S | - |
dc.creator | Wang, K | - |
dc.creator | Li, ZC | - |
dc.creator | Fu, X | - |
dc.creator | Chan, FTS | - |
dc.date.accessioned | 2022-08-25T01:54:01Z | - |
dc.date.available | 2022-08-25T01:54:01Z | - |
dc.identifier.issn | 0191-2615 | - |
dc.identifier.uri | http://hdl.handle.net/10397/94567 | - |
dc.language.iso | en | en_US |
dc.publisher | Pergamon Press | en_US |
dc.rights | © 2021 Elsevier Ltd. All rights reserved. | en_US |
dc.rights | © 2021. This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/ | en_US |
dc.rights | The following publication Zheng, S., Wang, K., Li, Z. C., Fu, X., & Chan, F. T. (2021). Subsidy or minimum requirement? Regulation of port adaptation investment under disaster ambiguity. Transportation Research Part B: Methodological, 150, 457-481 is available at https://doi.org/10.1016/j.trb.2021.04.006. | en_US |
dc.subject | Climate change-related disaster | en_US |
dc.subject | Disaster ambiguity | en_US |
dc.subject | Minimum requirement | en_US |
dc.subject | Port adaptation investment | en_US |
dc.subject | Regulation | en_US |
dc.subject | Subsidy | en_US |
dc.title | Subsidy or minimum requirement? Regulation of port adaptation investment under disaster ambiguity | en_US |
dc.type | Journal/Magazine Article | en_US |
dc.identifier.spage | 457 | - |
dc.identifier.epage | 481 | - |
dc.identifier.volume | 150 | - |
dc.identifier.doi | 10.1016/j.trb.2021.04.006 | - |
dcterms.abstract | This paper models two commonly adopted regulatory polices (the minimum requirement regulation vs. subsidy) on port adaptation investment to mitigate the damage caused by climate change-related disasters. The ambiguity of the disaster occurrence probability and the decision makers’ attitudes towards risk are explicitly modelled. It is found, under the minimum requirement regulation, ports balance the option of increasing their adaptation vs. reducing their economic activities. In comparison, subsidies promote adaptation without introducing any incentive for ports to reduce outputs, but they can be less efficient than minimum requirement regulations in addressing market failures, such as that caused by a spill-over externality. The ambiguity of disasters changes the optimal designs of minimum requirement regulation and subsidy policy but does not change their relative ranking qualitatively. Decision makers’ risk attitudes also play important roles. Higher degrees of pessimism (more risk aversion) lead to lower port outputs but can also increase the level of port adaptation to achieve full insurance against disaster loss. Higher degrees of pessimism also make the government more conservative to intervene in the ports’ adaptation and thus less likely to impose the two regulatory policies. Our analysis also explains why it is justified for the government to withhold intervention under ambiguity, and also shows that the ambiguity does not necessarily bring worse expected social welfare. | - |
dcterms.accessRights | open access | en_US |
dcterms.bibliographicCitation | Transportation research. Part B, Methodological, Aug. 2021, v. 150, p. 457-481 | - |
dcterms.isPartOf | Transportation research. Part B, Methodological | - |
dcterms.issued | 2021-08 | - |
dc.identifier.scopus | 2-s2.0-85110331509 | - |
dc.identifier.eissn | 1879-2367 | - |
dc.description.validate | 202208 bcww | - |
dc.description.oa | Accepted Manuscript | en_US |
dc.identifier.FolderNumber | ISE-0104 | en_US |
dc.description.fundingSource | Others | en_US |
dc.description.fundingText | National Key Research and Development Program of China; Social Science Foundation of Ministry of Education of China; National Science Foundation of China | en_US |
dc.description.pubStatus | Published | en_US |
dc.identifier.OPUS | 56140453 | en_US |
dc.description.oaCategory | Green (AAM) | en_US |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Fu_Subsidy_Or_Minimum.pdf | Pre-Published version | 1.42 MB | Adobe PDF | View/Open |
Page views
74
Last Week
0
0
Last month
Citations as of Sep 22, 2024
Downloads
53
Citations as of Sep 22, 2024
SCOPUSTM
Citations
25
Citations as of Sep 26, 2024
WEB OF SCIENCETM
Citations
25
Citations as of Sep 26, 2024
Google ScholarTM
Check
Altmetric
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.