Design of Rebates for Environmentally Beneficial Products
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As the urgency of addressing climate change continues to increase, national, state, and local governments are increasingly willing to offer incentives to consumers who purchase innovative durable products that have smaller environmental footprints. We identify the trade-off between current adoptions and the development of improved technology that arises when governments offer such incentives, which typically take the form of either rebates or tax credits. We study two types of rebate structures: a short-term rebate that has a large cash value but is available for only a relatively short time window and a long-term rebate that has a lower cash value but is available for a longer time window. The short-term rebate certainly speeds up the adoption rate, but this may also discourage manufacturers from investing in technological innovation that will lead to future product improvements. For a given budget constraint, a long-term rebate avoids this pitfall but may also lead to fewer total adoptions. Using a durable goods framework, we explore the conditions under which the total environmental benefit is larger when the government offers a short- versus long-term rebate. We also show that the choice of the rebate structure derived from having a higher adoption rate might lead to a lower total environmental benefit.
孙皓莹，肯塔基大学盖顿商学院副教授，得克萨斯大学奥斯汀分校博士。主要研究领域为产业组织理论、运营管理、市场营销等，有多篇论文发表在Production and Operations Management、OMEGA--International Journal of Management Science、Journal of Consumer Psychology、Journal of Marketing Behavior等国际顶级期刊。在国际学术影响力方面，她的代表性成果获得管理学国际顶级期刊OMEGA-International Journal of Management Science（中科院一区，影响因子8.67）2022年最佳论文奖，担任管理学国际一流期刊Decision Sciences副主编、运营管理领域国际顶级期刊Production and Operations Management编委，并应邀担任美国运筹学与管理科学学会（INFORMS）2022年会制造业、服务业运营管理与供应链管理分会主席。