IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v10y2022i6p1006-d775991.html
   My bibliography  Save this article

The Game Model of Blue Carbon Collaboration along MSR—From the Regret Theory Perspective

Author

Listed:
  • Changping Zhao

    (Business School, Changshu Institute of Technology, Suzhou 215506, China
    Tianhua College, Shanghai Normal University, Shanghai 201815, China)

  • Maliyamu Sadula

    (School of Economics and Management, Shihezi University, Shihezi 832002, China)

  • Xiangmeng Huang

    (Business School, Changshu Institute of Technology, Suzhou 215506, China)

  • Yali Yang

    (School of Economic and Management, Southeast University, Nanjing 211189, China)

  • Yu Gong

    (Business School, University of Southampton, Southampton SO17 1BJ, UK)

  • Shuai Yang

    (Business School, Changshu Institute of Technology, Suzhou 215506, China)

Abstract

Ocean pollution and global warming are two pressing environmental problems exacerbated by human economic behavior. Building a blue carbon cooperation platform along the Maritime Silk Road (MSR) to promote sustainable development of countries along the route is of practical value to solving these two problems. Based on the analysis and review of the latest research on blue carbon, cooperative game and MSR, Weber’s law and regret theory are introduced to establish an economic model of blue carbon international cooperation, which proves the economic feasibility of blue carbon cooperation along MSR. The influence of psychological factors on the decision making of blue carbon international cooperation is also discussed. In addition, the measures to promote international cooperation are also discussed according to the current situation of marine blue carbon resources.

Suggested Citation

  • Changping Zhao & Maliyamu Sadula & Xiangmeng Huang & Yali Yang & Yu Gong & Shuai Yang, 2022. "The Game Model of Blue Carbon Collaboration along MSR—From the Regret Theory Perspective," Mathematics, MDPI, vol. 10(6), pages 1-15, March.
    • Handle: RePEc:gam:jmathe:v:10:y:2022:i:6:p:1006-:d:775991
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/10/6/1006/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/10/6/1006/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    2. Trisha B. Atwood & Rod M. Connolly & Euan G. Ritchie & Catherine E. Lovelock & Michael R. Heithaus & Graeme C. Hays & James W. Fourqurean & Peter I. Macreadie, 2015. "Predators help protect carbon stocks in blue carbon ecosystems," Nature Climate Change, Nature, vol. 5(12), pages 1038-1045, December.
    3. Tiziana Ciano & Massimiliano Ferrara & Mariangela Gangemi & Domenica Stefania Merenda & Bruno Antonio Pansera, 2021. "Climate Change Sustainability: From Bargaining to Cooperative Balanced Approach," Games, MDPI, vol. 12(2), pages 1-13, May.
    4. Changping Zhao & Xiaojiang Xu & Yu Gong & Houming Fan & Haojia Chen, 2019. "Blue Carbon Cooperation in the Maritime Silk Road with Network Game Model and Simulation," Sustainability, MDPI, vol. 11(10), pages 1-27, May.
    5. Cullis-Suzuki, Sarika & Pauly, Daniel, 2010. "Failing the high seas: A global evaluation of regional fisheries management organizations," Marine Policy, Elsevier, vol. 34(5), pages 1036-1042, September.
    6. Diecidue, Enrico & Somasundaram, Jeeva, 2017. "Regret theory: A new foundation," Journal of Economic Theory, Elsevier, vol. 172(C), pages 88-119.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Houdong Liu & Qian Kang & Yi Zou & Songtao Yu & Yuxian Ke & Pin Peng, 2023. "Research on Comprehensive Evaluation Model of Metal Mine Emergency Rescue System Based on Game Theory and Regret Theory," Sustainability, MDPI, vol. 15(14), pages 1-15, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yoichiro Fujii & Hajime Murakami & Yutaka Nakamura & Kazuhisa Takemura, 2023. "Multiattribute regret: theory and experimental study," Theory and Decision, Springer, vol. 95(4), pages 623-662, November.
    2. Fang Liu, 2021. "Regret theory under fear of the unknown," Papers 2108.01825, arXiv.org.
    3. Daniele Pennesi, 2021. "Between Commitment and Flexibility: Revealing Anticipated Regret and Elation," Working papers 071, Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino.
    4. Markus Dertwinkel-Kalt & Mats Köster, 2020. "Salience and Skewness Preferences [Risk-neutral Firms can Extract Unbounded Profits from Consumers with Prospect Theory Preferences]," Journal of the European Economic Association, European Economic Association, vol. 18(5), pages 2057-2107.
    5. Zheng, Jiakun, 2021. "Willingness to pay for reductions in health risks under anticipated regret," Journal of Health Economics, Elsevier, vol. 78(C).
    6. Emmanuelle GABILLON, 2020. "When choosing is painful: anticipated regret and psychological opportunity cost," Bordeaux Economics Working Papers 2020-04, Bordeaux School of Economics (BSE).
    7. Baule, Rainer & Korn, Olaf & Kuntz, Laura-Chloé, 2019. "Markowitz with regret," Journal of Economic Dynamics and Control, Elsevier, vol. 103(C), pages 1-24.
    8. Jiakun Zheng, 2021. "Willingness to pay for reductions in health risks under anticipated regret," Post-Print hal-04227414, HAL.
    9. Bonanno, Giacomo, 2022. "Minimax regret with imperfect ex-post knowledge of the state," Research in Economics, Elsevier, vol. 76(4), pages 403-412.
    10. Moshe Levy, 2022. "An evolutionary explanation of the Allais paradox," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1545-1574, November.
    11. Herweg, Fabian & Müller, Daniel, 2021. "A comparison of regret theory and salience theory for decisions under risk," Journal of Economic Theory, Elsevier, vol. 193(C).
    12. Armantier, Olivier & Foncel, Jérôme & Treich, Nicolas, 2023. "Insurance and portfolio decisions: Two sides of the same coin?," Journal of Financial Economics, Elsevier, vol. 148(3), pages 201-219.
    13. Emmanuelle Gabillon, 2022. "Regret aversion and information aversion," Working Papers hal-03898012, HAL.
    14. Fujii, Yoichiro & Nakamura, Yutaka, 2021. "Regret-sensitive equity premium," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 302-307.
    15. Korn, Olaf & Rieger, Marc Oliver, 2019. "Hedging with regret," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 192-205.
    16. Qin, Jie, 2020. "Regret-based capital asset pricing model," Journal of Banking & Finance, Elsevier, vol. 114(C).
    17. Gabillon, Emmanuelle, 2020. "When choosing is painful: Anticipated regret and psychological opportunity cost," Journal of Economic Behavior & Organization, Elsevier, vol. 178(C), pages 644-659.
    18. Emmanuelle GABILLON, 2022. "Regret aversion and information aversion," Bordeaux Economics Working Papers 2022-12, Bordeaux School of Economics (BSE).
    19. Andersson, Henrik & Scholtz, Henrik & Zheng, Jiakun, 2023. "Measuring regret theory in the health and financial domain," TSE Working Papers 23-1449, Toulouse School of Economics (TSE).
    20. Georgia Perakis & Guillaume Roels, 2008. "Regret in the Newsvendor Model with Partial Information," Operations Research, INFORMS, vol. 56(1), pages 188-203, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:10:y:2022:i:6:p:1006-:d:775991. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.