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Greenness transformation, environmental awareness, and green product policy in spatial markets

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  • Leonard F. S. Wang
  • Wen‐Chung Guo
  • Haoxiang Qi

Abstract

This paper examines the transformation towards greenness, focusing on consumer environmental awareness within a circular city model characterized by elastic demand. Our findings reveal that the equilibrium investment in environmentally friendly initiatives falls short of the socially optimal level for a given market structure. The degree of excess or insufficient market entry is influenced by the level of environmental awareness. Further, we delve into the role of environmental delegation, demonstrating that heightened environmental awareness can mitigate underinvestment in the environment and reduce inefficiency in market entry. From a policy perspective, we expand our analysis to include the “Green Product Policy.” This extension aims to explore the impact of such a policy on environmental awareness and assess the applicability of the “excess entry theorem” in this context.

Suggested Citation

  • Leonard F. S. Wang & Wen‐Chung Guo & Haoxiang Qi, 2024. "Greenness transformation, environmental awareness, and green product policy in spatial markets," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(8), pages 5322-5329, December.
    • Handle: RePEc:wly:mgtdec:v:45:y:2024:i:8:p:5322-5329
    DOI: 10.1002/mde.4331
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