Search Results (86)

Personal carbon accounts translate everyday low-carbon actions into records, feedback, and rewards, yet there is limited evidence on how users value specific design features. This study examines young adults’ preferences for five attributes of personal carbon accounts: tangible welfare incentives, non-material incentives, carbon-reduction rankings, privacy protection, and overall time cost. A discrete choice experiment was conducted with 623 valid respondents in the Sichuan-Chongqing region, and preferences were estimated using conditional logit, mixed logit, and latent class models. Product discounts and ranking feedback increased the relative attractiveness of an account scheme, whereas higher time costs reduced it. Financial credit benefits, personal honorary titles, and public-welfare contributions were less attractive than their respective baseline levels. Blockchain-labeled protection had no significant average advantage over standard anonymization, although responses to this label varied across respondents and latent classes. Preference heterogeneity was concentrated mainly in the valuation of welfare and non-material incentives. These findings suggest that youth-oriented personal carbon accounts should offer benefits that are easy to understand and redeem, provide visible but low-burden feedback, and explain data-protection arrangements in concrete terms. Full article

This systematic review examines why empirical studies report conflicting effects of diversification on insurer performance and under what governance, risk-management, and institutional conditions diversification creates or destroys value. Following a PRISMA 2020-guided search of Scopus, Web of Science, and Google Scholar, and after screening 238 of the 415 identified records, the review synthesizes 56 empirical studies and develops a multi-level institutional–contingency framework that integrates institutional theory, the resource-based view, and agency theory. The review finds that diversification premiums, discounts, and non-linear effects coexist across the literature rather than forming a single dominant pattern, because—across product, geographic, human capital, and technological diversification—outcomes depend on institutional context, governance quality, ERM maturity, and firm capabilities rather than on diversification per se. Theoretically, the review moves the field beyond a premium-discount binary by explaining how institutional conditions, resource-based execution capacity, and agency problems interact across contexts. Practically, it indicates that insurers should evaluate diversification as a governance-sensitive risk-management decision requiring ERM maturity, internal controls, and incentive alignment, rather than as a standalone growth strategy. Full article

Renewable energy communities (RECs) are increasingly recognized as a strategic instrument for enhancing the sustainability and resilience of energy systems, promoting local renewable integration, and reducing consumer exposure to electricity market volatility. This study analyzes the Italian electricity market and assesses the economic performance of RECs relative to individual consumers using high-frequency hourly data from 2021 to 2023, covering both the 2022 European energy crisis and the subsequent Italian regulatory reform of incentive mechanisms. The optimization problem is formulated in physical terms, aiming to maximize locally utilized energy, defined as the sum of self-consumed and shared photovoltaic generation. This choice reflects the structure of the Italian regulatory framework, where incentives are directly linked to the amount of energy shared within the community. In this context, energy-based optimization is preferred to avoid embedding assumptions on discount rates, investment horizons, and financing conditions, which may vary significantly across users and introduce additional uncertainty. From a sustainability perspective, maximizing local energy utilization contributes to improving energy efficiency, reducing reliance on external energy sources, and enhancing the capacity of decentralized systems to absorb market shocks. For this reason, economic indicators such as Net Present Value (NPV) or payback period are not explicitly included in the optimization objective. This is justified by the focus of the analysis on short-term operational performance and exposure to electricity price volatility, rather than long-term investment evaluation. Moreover, given that the economic value of the REC is largely determined by shared energy volumes under the current Italian incentive scheme, maximizing local energy utilization provides a consistent proxy for economic performance. Nevertheless, the integration of financial metrics such as NPV or payback period represents a relevant extension for future research, particularly in the context of investment decision-making. Through panel econometric analysis, we estimate the sensitivity of economic value to electricity price fluctuations. Results show that RECs reduce price sensitivity by approximately 8–15% compared to individual users, as estimated by panel regression coefficients. Furthermore, the volatility of economic value decreases by around 1.95% under the community configuration, particularly during the 2022 price shock demonstrating that RECs exhibit significantly lower price dependence than standalone consumers. To assess the robustness of these findings, a machine learning framework is employed to relax linearity assumptions and capture potential non-linear effects. Results consistently show that while market prices remain an important determinant, RECs substantially attenuate their impact, particularly during periods of extreme price stress. A policy counterfactual comparison between pre- and post-reform incentive structures further indicates that the coefficient of variation decreases by approximately 4.4% under the post-reform incentive scheme, highlighting the role of policy design in supporting economically and operationally sustainable energy communities. Overall, this study develops a data-driven analysis based on a high-frequency synthetic dataset designed to reproduce realistic consumption and generation dynamics, providing robust evidence that RECs contribute not only to renewable energy deployment but also to the economic and systemic sustainability of electricity markets under conditions of high volatility. Full article

From the perspective of symbiosis theory, collaborative work safety governance in industrial parks can be understood as a dynamic multi-actor symbiotic system jointly composed of the park management committee, leading enterprises, and small and medium-sized enterprises. To examine how reciprocal symbiosis among multiple actors affects system-level safety performance and sustainable operation, this study develops a differential game model in which the work safety level of the industrial park evolves dynamically over time. The model comparatively analyzes the work safety efforts, discounted payoffs of symbiotic units, and the overall work safety level of the park under different decision-making mechanisms and reciprocal symbiosis modes. The results show that: (1) under the leading-enterprise-dominated mode, as the coefficient of work safety resource sharing increases, the overall work safety level of the park correspondingly improves; however, once this coefficient exceeds a certain threshold, it becomes unfavorable to the further growth of the leading enterprise’s own benefit; (2) under the park-management-committee-led mode, as the cost-sharing coefficient increases, the overall work safety level of the park continues to improve, but an excessively high cost-sharing coefficient weakens the incentive for the park management committee to increase its benefit; and (3) under certain conditions, the leading-enterprise-dominated mode, the park-management-committee-led mode, and the deep collaboration mode can all improve both the park’s work safety level and the discounted payoffs of symbiotic units, but the deep collaboration mode performs best in enhancing the overall work safety level and the total system payoff. Compared with the park-management-committee-led mode, the leading-enterprise-dominated mode is more sensitive in its impact on the total payoff of the industrial park. These findings indicate that sustainable work safety improvement in industrial parks cannot rely solely on increasing governance inputs or on the actions of a single actor. Instead, it requires a system-wide balance among safety performance, economic efficiency, resource-sharing sustainability, and the long-term stability of collaborative relationships. The study provides a system-oriented theoretical basis for optimizing reciprocal symbiosis mechanisms and promoting the sustainable development of industrial parks. Full article

The rapid growth of the sharing economy has improved resource utilization in car-sharing, yet it has also sharpened market competition and diversified user demand. A persistent obstacle is the low coordination efficiency between asset-heavy operating companies and traffic-driven platforms, whose misaligned objectives waste social resources. This paper uses differential game theory to analyze their dynamic coordination strategies and benefit allocation mechanisms. The Nerlove–Arrow model captures the evolution of brand goodwill, while the company’s decisions on station layout, vehicle dispatch, and pricing, together with the platform’s advertising investment, form the core decision variables in a two-party game framework linking the asset side and the traffic side. Compared with the non-cooperative Nash equilibrium, the cooperative mode removes the double marginalization effect, strengthens the investment incentives of both parties, and raises the system’s steady-state goodwill and total profit, achieving a Pareto improvement. To ground the cooperative framework in rigorous theory, we supply a verification theorem confirming that the linear candidate value functions satisfy the Hamilton–Jacobi–Bellman equations over the entire admissible state space. A formal proof of instantaneous rationality ensures that neither party falls into a cooperation trap on the horizon $[0,T]$, and the asymptotic stability of the steady-state goodwill trajectory is established. We further endogenize the revenue-sharing coefficient through a generalized Nash bargaining model that admits asymmetric bargaining structures, and introduce a Stackelberg leadership benchmark as a third comparative regime. Sensitivity analyses with respect to the discount rate and user heterogeneity confirm the robustness of the findings. A dedicated discussion section bridges the gap between idealized parameterization and data-driven calibration, describing practical pathways via A/B testing, user churn metrics, and econometric estimation of demand parameters. The results offer a scientific decision-making reference for strategic cooperation in the car-sharing industry. Full article

Decarbonising the residential building sector requires not only technical solutions, but also financially viable delivery models. This paper examines the economic performance of Energy Plus Service (EPS) schemes applied to deep renovation projects under uncertainty, with particular attention to the role of project scale and market conditions. The analysis is based on a portfolio of 21 residential buildings in Northern Italy and combines a Discounted Cash Flow (DCF) model with Monte Carlo simulation. Key sources of uncertainty include renovation costs, post-retrofit energy performance, rental values, and electricity prices, allowing for the estimation of probabilistic Net Present Value (NPV) outcomes. The results show a clear impact of residential asset spatial scale on financial outcomes. Small projects are generally unprofitable, while medium-sized assets are highly sensitive to uncertainty. Larger projects, instead, display a much higher likelihood of positive financial outcomes. Sensitivity analysis indicates that financial performance is driven mainly by investment costs and rental income, while energy-related variables play a more limited role. The findings suggest that the viability of EPS models depends as much on market conditions as on technical performance, pointing to a potential misalignment between energy policy objectives and private investment incentives. Results suggest that projects approaching 160 m² are more likely to achieve a 50% probability of a positive NPV, indicating a potential scale threshold beyond which EPS schemes become significantly more bankable and below which aggregation or additional de-risking measures are likely to be required. Full article

Behavioral interventions are widely used to promote sustainable consumption, but their effectiveness under high-friction real-world conditions remains uncertain, especially when multiple tools are combined. We report a quasi-experimental natural field study conducted in a busy urban café in Tel Aviv, Israel, examining the isolated and combined effects of a localized identity-based social-norm cue and a small financial incentive on reusable cup adoption. Across four consecutive weeks and 9414 hot-beverage transactions, a baseline week was followed by a norm condition, a 1 NIS discount condition, and a combined condition. Reusable cup use increased from 3.33% at baseline to 3.59% in the norm week, 4.19% in the incentive week, and 3.72% in the combined week, but none of these changes reached statistical significance. The financial incentive produced the largest descriptive increase, whereas the combined intervention did not outperform the incentive alone. Across the intervention period, reusable cup use exceeded the number expected under the baseline rate by approximately 35 purchases. These bounded null findings suggest that low-cost behavioral tools may yield only modest gains in convenience-driven consumption settings and that combining policy tools does not necessarily generate additive effects. The study contributes ecologically grounded evidence on the boundary conditions of sustainable behavior change and highlights the importance of testing behavioral policies under realistic implementation constraints. Full article

The integration of blockchain technology into the Internet of Things (IoT) offers a decentralized paradigm for data integrity. However, the emergence of 51% attacks—driven by hashrate concentration—threatens the foundational trust of these resource-constrained networks. In resource-constrained IoT-enabled blockchain environments, mining-power asymmetry and limited governance capability may amplify the impact of strategic attacks. These characteristics motivate the need to analyze long-term adversarial behavior and governance effectiveness under repeated interactions. This paper develops a threshold-based analytical framework that integrates a single-stage decision model and a multi-stage discounted decision model to analyze 51% attack decisions and governance effects in asymmetric blockchain mining environments. We characterize the interaction between competing mining pools as a multi-stage game, integrating key parameters such as the discount factor of future utility and recovery penalty cycles. Our analysis demonstrates that a multi-stage framework creates a “long-term deterrent effect” where the net present value of potential future losses outweighs the immediate gains of hashrate abuse. analytical results indicate that the strategic threshold for launching an attack is highly sensitive to the duration of punitive measures and the accuracy of IoT-based anomaly detection. The results provide useful insights into the design of governance and incentive mechanisms for blockchain systems deployed in resource-constrained and heterogeneous environments. Full article

This study formulates a corporate abatement decision problem under carbon price uncertainty as a continuous-time stochastic control model. To this end, the carbon price is modeled as a geometric Brownian motion, while abatement capacity is accumulated through costly effort and depreciates over time. Specifically, the firm chooses its abatement effort to maximize expected discounted profits while accounting for allowance purchasing costs, compliance-related penalties, abatement costs, and potential revenues from surplus allowances. The paper contributes by integrating stochastic carbon prices, endogenous abatement-capacity accumulation, allowance-shortage/allowance-surplus asymmetry, and surplus allowance monetization into a unified corporate abatement framework. Applying the dynamic programming principle, the associated Hamilton–Jacobi–Bellman equation is derived, and the bounded optimal abatement effort is characterized in feedback form. Since the resulting nonlinear HJB equation generally does not admit a closed-form solution, a finite-difference scheme with damped policy iteration is used for numerical analysis. The results show that optimal abatement effort is strongly state-dependent. Higher carbon prices strengthen abatement incentives in the allowance-shortage region, whereas effort declines sharply after reaching allowance neutrality if surplus allowances cannot be monetized. Moreover, partial monetization of surplus allowances significantly increases abatement effort in the surplus region and can shift firms’ behavior from passive compliance to active low-carbon investment. Overall, these findings suggest that surplus allowance monetization plays an important role in sustaining firms’ abatement incentives under carbon price uncertainty. Full article

Background: Improper disposal of unused and expired medicines represents an environmental and public health concern. In Romania, Law No. 269/2023 assigned the responsibility for collecting household pharmaceutical waste to public and private hospitals, while operational procedures were further detailed in the Ministry of Health (MoH) Instruction No. 6226/2024. Objectives: This study aimed to assess knowledge, attitudes, and practices (KAP) related to the disposal of unused and expired medicines among the general public and community pharmacy staff during the early phase of implementation of the hospital-based medicine take-back system in Romania. Methods: A cross-sectional survey using convenience sampling was conducted between 1 and 31 August 2023. Two structured questionnaires were administered: one targeting the general public/patients and another addressing community pharmacy staff. Data were analyzed descriptively using frequencies and percentages. Several items allowed multiple responses. Results: Among public respondents (n = 108; predominantly male, 90.7%; urban, 75.0%), household waste disposal was the most frequently reported method (58.3%), followed by pharmacy return (43.5%). Willingness to use a dedicated collection system was very high (96.3%). Among pharmacy staff (n = 71; predominantly female, 78.9%; urban, 74.6%), 40.8% reported no collection activity; where collection occurred, it was typically on demand. Disposal routes included transfer to specialized waste companies (56.3%) and regulated destruction (43.7%). Only 1.4% of pharmacies offered incentives, while 45.4% of the public indicated discounts could motivate returns. Conclusions: Findings indicate an implementation and communication gap during the transition to a hospital-based pharmaceutical waste collection system. Strengthening public communication on official collection points and providing clearer operational guidance may support safer disposal practices. Full article

Due to environmental challenges, the global luxury hospitality industry faces increasing pressure to reduce its consumption of natural resources while maintaining service quality. In this paper a conceptual study is conducted to identify three primary problems of the tourism industry and highlight their impact on sustainable water resources and ecosystems: excessive water, electricity and towel/linen consumption in luxury hotels and resorts. This paper proposes a solution that uses a digital smart meter system linked to guest rooms. It is activated upon check-in, and guest participation is optional. It uses tangible or intangible incentives—such as discounts upon departure for future stays or for hotel laundry/meals/beverages—that rationalize consumption without affecting the quality of basic services. This approach may be implemented either independently by a single hotel or collaboratively through strategic alliances among multiple hotels, thus enabling customers to redeem their incentives/credits at any participating property. Guests are grouped into three consumption levels: high-saving guests (high incentives), average-saving guests (average incentives) and third-level guests (low/below-average incentives). Adopting this approach helps luxury hotels/resorts reduce their operational costs and enhance their image by applying green marketing in practice. Moreover, this conceptual paper proposes the provision of badges, including international environmental certifications, to hotels that adopt this responsible approach. This mechanism is a modern model that directly benefits all involved parties: service providers, customers/guests, environmental organizations and the environment. Full article

Pre-sale mechanisms are widely used by e-tailers to manage demand uncertainty and stimulate early purchases, yet existing research has largely emphasized economic incentives while giving limited attention to consumers’ psychological responses to early commitment. This study examines how anticipated regret shapes the relative performance of two prevalent pre-sale strategies—advance discounts and deposit expansion—across different market structures. We develop game-theoretic models of monopolistic and duopolistic markets in which consumers anticipate post-purchase regret and incorporate this behavioral concern into their pre-sale decisions. Our analysis shows that deposit expansion consistently attracts higher demand than advance discounts by offering post-decision flexibility, and this demand advantage increases with consumers’ regret sensitivity. However, the profitability implications are non-monotonic. While deposit expansion dominates advance discounts when anticipated regret is low to moderate, advance discounts become more profitable once regret is sufficiently strong. Competition further moderates these effects by amplifying demand differences while compressing profit margins, without altering the regret threshold at which profit dominance reverses. Full article

California is currently navigating the confluence of two acute systemic challenges: a chronic housing affordability deficit and increasing grid instability driven by climate-induced volatility and the aggressive transition to variable renewable energy. This review posits that the answer lies in a novel technology convergence: the strategic integration of Accessory Dwelling Units (ADUs) with residential Battery Energy Storage Systems (BESSs) utilizing the “Photovoltaic-Energy Storage-Direct Current-Flexibility” (PEDF) architecture. We identify this ADU + BESS + PEDF nexus as a critical innovation that transforms the dwelling unit from a passive consumption endpoint into an active highly efficient DC-coupled “prosumer” node capable of providing critical grid services. Unlike traditional AC-coupled systems, the PEDF framework minimizes conversion losses and maximizes grid-interactive flexibility, establishing the ADU as a decentralized asset for grid stabilization. To validate this paradigm, I employ a stochastic financial simulation using the RShiny framework to assess the economic viability of prefabrication-based deployment strategies under Senate Bill 9 (SB 9) provisions for three investment scenarios: Acquisition-to-Rent, Acquisition–Development–Resale, and Long-Term-Asset-Retention. Benchmarked against a baseline of traditional in situ constructions globally, our results indicate that modular prefabrication reduces project timelines by 30–50% and cradle-to-site embodied carbon by up to 47%. Furthermore, financial modelling—benchmarked at a 7.5% nominal discount rate without discretionary state incentives—confirms that “Acquisition–Development–Resale” strategies yield Internal Rates of Return (IRR) exceeding 20%, while “Long-Term-Asset-Retention” achieves stabilized positive cash flow, validating the economic competitiveness of sustainable densification. Despite identifying implementation barriers—specifically the “split-incentive” dilemma in rental markets and emerging data sovereignty constraints—this review concludes that the BESS-powered PEDF-architecture ADU represents the fundamental atomic unit of a resilient, low-carbon urban dwelling infrastructure, necessitating aligned policy support to achieve scalable deployment. Full article

This research evaluates the technical and financial feasibility of green hydrogen production in Colombia using Small Hydropower Plants (SHPs), positioning them as a strategic complement to intermittent sources such as solar and wind. To address an underexplored niche in the national hydrogen roadmap, the study applies a Real Options framework, specifically using a binomial tree model, and incorporates the Weibull distribution to estimate risk-adjusted discount rates. This methodological combination allows for the modeling of operational flexibility under uncertainty, particularly through the analysis of an American-style abandonment option. The results indicate that SHPs provide continuous power generation, enhance electrolyzer efficiency, lower the Levelized Cost of Hydrogen (LCOH), and improve cash flow. However, fiscal incentives and high initial capital costs remain limiting factors. The study proposes extending the evaluation horizon to 15 years and implementing mechanisms such as Capital Expenditures (CAPEX) subsidies to improve project viability. Overall, the research contributes to the diversification of Colombia’s energy matrix, encourages regional development, and supports the positioning of green hydrogen as a viable financial asset within the country’s energy transition framework. Full article

This study examines the economic performance of residential photovoltaic systems combined with battery storage (PV-BESS) under Poland’s net-billing regime for a single-family household without subsidy support in 10-year operational horizon. These insights extend existing European evidence by demonstrating how net-billing fundamentally alters investment incentives. The analysis incorporates real production data from selected locations and realistic household consumption profiles. Results demonstrate that optimal system configuration (6 kWp PV with 15 kWh storage) achieves 64.3% reduction in grid electricity consumption and positive economic performance with NPV of EUR 599, IRR of 5.32%, B/C ratio of 1.124 and discounted payback period of 9.0 years. The optimized system can cover electricity demand in the summer half-year by over 90% and reduce local network stress by shifting surplus solar generation away from midday peaks. Residential PV-BESS systems can achieve economic efficiency in Polish conditions when properly optimized, though marginal profitability requires careful risk assessment regarding component costs, durability and electricity market conditions. For Polish energy policy, the findings indicate that net-billing creates strong incentives for regulatory instruments that promote higher self-consumption, which would enhance the economic role of residential storage. Full article