An Evolutionary Game and System Dynamics Approach for the Production and Consumption of Carbon-Labeled Products—Based on a Media Monitoring Perspective

Abstract

Carbon label is acknowledged to be an effective way to combat the problem of global warming. As a powerful way to encourage individuals to adjust their consumption patterns and to promote the development of green consumption, carbon-labeled products are widely developed in China. To reveal the production and consumption process of carbon-labeled products, the present study constructs a tripartite game model consisting of the government, carbon-labeled products manufacturers and consumers based on a media monitoring perspective. The evolutionary stability strategy (ESS) is firstly determined by solving the replication dynamic equations and stability analysis of the equilibrium point, followed by the strategy analysis and sensitivity analysis through numerical simulation. The results show that media supervision can effectively complement and constrain government supervision. In addition, it can promote enterprises to standardize production and enhance consumers' trust and willingness to buy carbon-labeled products. The introduction of media supervision can well realize the ideal equilibrium of "effective government supervision, enterprise compliance and consumer support for purchase".

Keywords: evolutionary game, System Dynamics, carbon-labeled products, media monitoring, green consumption