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Evolutionary Game Analysis of Complex Networks in Enterprise Green Technology Innovation From a Prospect Theory Perspective

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  • Wu Guancen
  • Chen Xuan
  • Niu Xing

Abstract

Green technological innovation in enterprises is a key driving force for achieving sustainable development and industrial transformation. However, how enterprises formulate effective innovation strategies by integrating subjective factors with objective market conditions within complex industrial networks remains an area requiring further exploration. This study aims to construct a complex network evolution model based on prospect theory and examines how subjective factors, such as reference points, risk preferences, and loss aversion, influence the adoption of green technology innovation in different network environments. It further explores how network characteristics, including topology, size, and node degree, affect the diffusion of innovation. Numerical analysis results indicate that in scale‐free networks, lowering reference points for enterprise gains, reducing loss aversion, increasing risk preference, expanding network size, and raising average node degree generally promote higher adoption of green technology innovation. In small‐world networks, the dependence on reference points is relatively lower, risk preference and average node degree demonstrate more complex impacts. Additionally, a moderate rewiring probability can enhance green technology innovation adoption in small‐world networks. These findings provide new insights and practical implications for understanding the driving mechanisms of green technological innovation in enterprises. They further emphasize the importance of government interventions tailored to the specific characteristics of industrial networks to effectively facilitate the diffusion of green technological innovation.

Suggested Citation

  • Wu Guancen & Chen Xuan & Niu Xing, 2025. "Evolutionary Game Analysis of Complex Networks in Enterprise Green Technology Innovation From a Prospect Theory Perspective," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(3), pages 1774-1791, April.
    • Handle: RePEc:wly:mgtdec:v:46:y:2025:i:3:p:1774-1791
    DOI: 10.1002/mde.4468
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    References listed on IDEAS

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