Energy Economics最新文献_第5页

Price competition and market dynamics under asymmetric costs: Evidence from discount gas station policy 非对称成本下的价格竞争与市场动态：来自折扣加油站政策的证据

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-01-21 DOI: 10.1016/j.eneco.2026.109144

Yenjae Chang , Junyeol Ryu

{"title":"Price competition and market dynamics under asymmetric costs: Evidence from discount gas station policy","authors":"Yenjae Chang , Junyeol Ryu","doi":"10.1016/j.eneco.2026.109144","DOIUrl":"10.1016/j.eneco.2026.109144","url":null,"abstract":"<div><div>This paper examines the market impact of a government-led intervention in South Korea’s retail fuel industry: the introduction of “thrifty” gas stations. These stations were supplied with fuel at reduced wholesale costs, thereby entering local markets with a cost advantage over incumbent stations. Drawing on a panel dataset covering approximately 22,000 gasoline stations from 2010 to 2019, we estimate the effects of this policy on fuel prices, market structure, and service quality. Using fixed effects and two-stage least squares (2SLS) models, we find that the entry of thrifty stations significantly lowered average retail gasoline prices through both direct cost-based pricing and intensified local competition. However, these short-run gains diminished over time as high-cost stations exited the market, leading to increased market concentration and weakened price competition. In addition, we document a shift toward self-service formats in treated markets, suggesting that service quality declined as firms adjusted to cost pressures. Taken together, the results indicate that while the policy effectively reduced prices in the short run, its long-run efficacy was undermined by structural and behavioral market adjustments, raising concerns about the dynamic consequences of asymmetric-cost competition under government intervention.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109144"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Impact of climate vulnerability on fiscal risk: Do religious tensions and financial development matter? 气候脆弱性对财政风险的影响：宗教紧张和金融发展重要吗？

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-06 DOI: 10.1016/j.eneco.2026.109180

Jamel Saadaoui , John Beirne , Donghyun Park , Gazi Salah Uddin

引用次数: 0

Improvement of carbon price prediction with social factors and mixed-frequency unstructured data 基于社会因素和混合频率非结构化数据的碳价格预测改进

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-05 DOI: 10.1016/j.eneco.2026.109190

Jinghao Kang , Fengyu Yang , Sicheng Li , Wanbo Lu , Muhammad Shahbaz , Kaiyang Zhong

{"title":"Improvement of carbon price prediction with social factors and mixed-frequency unstructured data","authors":"Jinghao Kang , Fengyu Yang , Sicheng Li , Wanbo Lu , Muhammad Shahbaz , Kaiyang Zhong","doi":"10.1016/j.eneco.2026.109190","DOIUrl":"10.1016/j.eneco.2026.109190","url":null,"abstract":"<div><div>Carbon emissions trading right is one of core financial instruments for climate risk management, and carbon trading price prediction can be an effective tool. China's carbon emissions trading prices fluctuate greatly on account of many exogenous factors. However, (i) scholars just consider one or several factors, and few take the comprehensive influencing factors into consideration in study; (ii) very little attention has been paid to employ the unstructured data to research the impact of policies on the carbon market; (iii) This sample frequency approach not only result in factors information loss but cannot depict non-stationary, non-parameters, complexed nonlinear and multi-frequency features of the time series of variables in carbon market. The introduction of social factor data, effective processing of high-dimensional data, and prediction methods improvement are still in great need. To address these gaps, with the examples of carbon emission rights trading prices in China's markets, this paper proposes a mixed frequency method with unstructured data for carbon price prediction: (1) First, we intrude the social policy of sentiment index and Baidu search index as influencing factors, and effectively deal with such unstructured data. The results show that they act as important factors in four carbon trading markets. (2) Second, by screening key indicators and combining the mixed frequency dynamic factor model (MF-DFM), we explore the overall influence of the typical external factors on carbon prices and forecast the volatility of carbon prices. (3) Third, deep neural network (DNN) models are added to predict diligently the residual, and the effect of deep learning model and method on improving the forecasting accuracy is discussed. Our study has further improved the factor system that affects carbon trading prices and proposed more predictive methods, which can have certain reference value for carbon emission trading management.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109190"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146134332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Carbon pricing effects on renewables: Evidence from California's electricity market 碳定价对可再生能源的影响：来自加州电力市场的证据

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-02 DOI: 10.1016/j.eneco.2026.109174

Gökhan Dilek , Jordi J. Teixidó , Mònica Serrano

{"title":"Carbon pricing effects on renewables: Evidence from California's electricity market","authors":"Gökhan Dilek , Jordi J. Teixidó , Mònica Serrano","doi":"10.1016/j.eneco.2026.109174","DOIUrl":"10.1016/j.eneco.2026.109174","url":null,"abstract":"<div><div>California's electricity market is remarkable due to its distinctive regulatory framework, which incorporates a cap-and-trade system and a carbon border adjustment mechanism (CBAM). However, our understanding of the effects of these carbon pricing policies on renewables deployment in California and its neighboring states is limited. Here we show that California's cap-and-trade policy has a positive effect on renewable electricity capacity at a county level, with an additional 148.9 MW on average compared to the counterfactual scenario with no carbon pricing; this equates to a 6.71 percentage point increase in the share of statewide renewable electricity capacity. Regarding the CBAM, we show novel ex-post evidence on the effects of the CBAM on California's main trading partners in terms of new renewable capacity. We find that the CBAM positively impacts renewable capacity in California's neighboring states if their electricity exports are not already from renewable sources (Arizona and Nevada, but not Oregon, which has major exports from hydroelectric plants). A thorough discussion of complementary policies (such as the role played by Renewable Portfolio Standards) is presented and the results are robust to them. These results are relevant in terms of the effects of carbon pricing on the adoption of zero‑carbon technology.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109174"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146111048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The power of digital empowerment in the process of energy low-carbon transition: Dimension decomposition and path exploration 能源低碳转型过程中的数字化赋能力量：维度分解与路径探索

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-21 DOI: 10.1016/j.eneco.2026.109215

Shuai Che , Miaomiao Tao , Haijie Wang , David Roubaud

{"title":"The power of digital empowerment in the process of energy low-carbon transition: Dimension decomposition and path exploration","authors":"Shuai Che , Miaomiao Tao , Haijie Wang , David Roubaud","doi":"10.1016/j.eneco.2026.109215","DOIUrl":"10.1016/j.eneco.2026.109215","url":null,"abstract":"<div><div>To explore the impact mechanism and boundary conditions of digital empowerment on China's low-carbon energy transition, this paper conducts a study using multiple empirical analysis methods, with panel data from 285 prefecture-level cities and above in China from 2012 to 2022 as the sample. The results show that digital empowerment has a significant promoting effect on the low-carbon transformation of energy and presents distinct temporal characteristics. In the long-term dimension, the intensity of its impact gradually increases as the integration of digital technology and energy systems deepens. The short-term effect exhibits an inverted U-shaped dynamic trajectory, where the effect reaches a peak in the short term and then fluctuates and declines as the adaptation process unfolds. This impact also has obvious threshold characteristics. When the per capita GDP and the actual amount of foreign capital used reach specific levels, the promoting effect of digital empowerment on low-carbon energy transformation will increase significantly. Spatially, the impact of digital empowerment exhibits the characteristic of geographical radiation attenuation, and the cross-regional indirect spillover effect weakens significantly beyond a certain distance. Mechanistic analysis reveals that economic growth, technical support, optimization of enterprise energy consumption, and upgrading of household energy structures are the core pathways through which digital empowerment drives the low-carbon transition of energy.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109215"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146778890","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Ambiguity about volatility in the commodity futures market 商品期货市场波动的模糊性

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-11 DOI: 10.1016/j.eneco.2026.109199

Thanos Verousis , Kai Wang , Zhiping Zhou

引用次数: 0

Diffusion of electric vehicles – The spillover effect of charging facilities and government demonstrations for neighbouring and peer regions 电动汽车的扩散——充电设施和政府示范对邻近和同行地区的溢出效应

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-01-23 DOI: 10.1016/j.eneco.2026.109164

Ronghui Zhu , Tieju Ma , Jingbing Feng

{"title":"Diffusion of electric vehicles – The spillover effect of charging facilities and government demonstrations for neighbouring and peer regions","authors":"Ronghui Zhu , Tieju Ma , Jingbing Feng","doi":"10.1016/j.eneco.2026.109164","DOIUrl":"10.1016/j.eneco.2026.109164","url":null,"abstract":"<div><div>Promoting the adoption of electric vehicles (EVs) is important for the decarbonisation of the transportation sector. Existing research indicates that the diffusion of new technologies tends to be highly spatially correlated. This study explores whether a region's adoption of EVs is positively related with the availability of charging facilities and government demonstrations promoting EVs in peer regions. This study develops a dynamic spatial panel data model based on the Spatial Dubin Model to explore this question using panel data from 28 provinces in China from 2013 to 2020. The main findings of this study include the following: 1) Not surprisingly, the high availability of charging facilities in a region and its local government's demonstration effort contribute to the adoption of EVs in the region; 2) the adoption of EVs in one region can contribute to EV adoption in its peer regions – so-called spillover effect; in particular, the government's demonstration effort contributes significantly to this effect, but the high availability of charging facilities does not; and 3) such spillover effects are more significant in regions with higher economic levels or regions with warm temperatures. Our study provides implications for EV makers to identify further potential markets for EVs.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109164"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The adoption of blockchain technology by green duopolistic firms: From Cournot to Bertrand competition 绿色双寡头企业对区块链技术的采用：从古诺到贝特朗竞争

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-01-23 DOI: 10.1016/j.eneco.2026.109157

Xiaoyang Lei, Donghui Yang

{"title":"The adoption of blockchain technology by green duopolistic firms: From Cournot to Bertrand competition","authors":"Xiaoyang Lei, Donghui Yang","doi":"10.1016/j.eneco.2026.109157","DOIUrl":"10.1016/j.eneco.2026.109157","url":null,"abstract":"<div><div>Although firms have increasingly applied blockchain technology to facilitate consumers realizing the green investments of their products, the related literature is still rare. We investigate the blockchain adoption strategies of duopolistic firms that both exert green investments before engaging in Cournot competition or Bertrand competition. The findings are summarized as follows. First, when neither firm adopts blockchain technology under both competition models, the firms increase green investments with consumer green perception, which, however, does not inevitably lead to an increase in their profits. Second, the blockchain adoption strategies for both Cournot firms and Bertrand firms are closely correlated with the intensity of market competition and the unit cost of blockchain operation. For weak market competition, both firms (neither firm) will adopt blockchain technology when this unit cost remains rather low (high). Interestingly, one firm applies blockchain technology while the other abandons when the unit cost of blockchain operation is moderate even though these firms are symmetric. However, this asymmetric blockchain adoption strategy disappears for the fierce market competition. Finally, we reveal that Cournot firms are more (less) likely to adopt blockchain technology for the weak (fierce) market competition. These findings provide fresh managerial implications on blockchain adoption strategies for competitive firms under different competition models.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109157"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unraveling the determinants of air pollutant emissions: A production-theoretical decomposition analysis with endogenous direction vectors 揭示空气污染物排放的决定因素：内生方向向量的生产-理论分解分析

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-01-31 DOI: 10.1016/j.eneco.2026.109162

S.Y. Wang , F. Wu , Y.Z. Liao , P. Zhou

{"title":"Unraveling the determinants of air pollutant emissions: A production-theoretical decomposition analysis with endogenous direction vectors","authors":"S.Y. Wang , F. Wu , Y.Z. Liao , P. Zhou","doi":"10.1016/j.eneco.2026.109162","DOIUrl":"10.1016/j.eneco.2026.109162","url":null,"abstract":"<div><div>Reducing air pollutant emissions constitutes a pressing global imperative for sustainable economic development. As efficiency advancements and technological innovations have been recognized as pivotal determinants of emission dynamics, identifying the contributions to changes in air pollutant emissions from a technology perspective is fundamental to pollution control management. To properly assess the driving forces of efficiency and technology related determinants, we propose an innovative production decomposition analysis (PDA) framework. The approach strategically portrays the technology heterogeneity among production entities by incorporating the meta-frontier concept, and further characterizes the heterogenous improving pathways for environmental performance through endogenous direction vectors, which therefore provides a systematic architecture for better understanding the roles of technical determinants. We apply this meta-frontier PDA method to analyze the driving forces behind industrial SO<sub>2</sub> and NO<sub>x</sub> emissions variations across 101 key environmental protection cities in China. Empirical results show that potential emission ratio is the predominant contributing factor to emissions reductions, while the economic scale effect is the principal contributor to emissions increases. The effects of potential energy intensity, environmental performance, and technology gap demonstrate spatiotemporal heterogeneity across urban systems and pollutant categories.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109162"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146095668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Clean vehicle ownership: Implications for effective policy interventions 清洁车辆所有权：对有效政策干预的影响

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-01-29 DOI: 10.1016/j.eneco.2026.109172

Mercè Amich , Manuel Tomás , Petr Mariel , Iñaki Arto

引用次数: 0