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Duopolistic blockchain adoption strategies with risky green R&D

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  • Lei, Xiaoyang
  • Yang, Donghui

Abstract

Whereas firms have increasingly applied blockchain to facilitate consumers accurately evaluating the green R&D of their products, the related literature is still rare, especially under the consideration of R&D risk. This article examines the blockchain adoption strategies of duopolistic firms that engage in green R&D with R&D risk through a game-theoretic model. It first indicates that due to the differentiation effect, firms may obtain lower expected profits as the R&D success probability increases under all blockchain adoption strategies. Second, it confirms that firms' blockchain adoption strategies are jointly influenced by both R&D risk and unit blockchain adoption cost. Interestingly, one firm elects blockchain while the other firm abandons for the low R&D success probability and the moderate adoption cost. Finally, it finds that more blockchain adoption does not always benefit consumers due to the high charged prices. These findings provide fresh economic implications for competitive firms on their green practices.

Suggested Citation

  • Lei, Xiaoyang & Yang, Donghui, 2026. "Duopolistic blockchain adoption strategies with risky green R&D," Economic Analysis and Policy, Elsevier, vol. 89(C), pages 402-420.
    • Handle: RePEc:eee:ecanpo:v:89:y:2026:i:c:p:402-420
    DOI: 10.1016/j.eap.2025.12.012
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