Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-Timer: Carbon Markets and Climate Policy Location: D-107 Session Chair: Jiwon Im, Seoul National University | |
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Circular Economy: Durability and Policy Implications 1: Kansai University, Japan; 2: Ritsumeikan University, Japan This paper develops a formal theoretical framework to analyze the link between product durability and extended producer responsibility (EPR) within the transition toward a circular economy (CE). By extending the durable goods model of Bulow (1986), we investigate how a deposit-refund system (DRS) and emission taxes interact with the intertemporal incentives of both firms and consumers to shape equilibrium durability. We identify a novel behavioral mechanism, the ``refund discount effect," where consumers’ desire to accelerate deposit recovery incentivizes firms to further reduce product lifespan. This effect acts as a ``double distortion" by complementing the classical Coase conjecture, providing a new theoretical explanation for planned obsolescence under environmental regulation. We derive the welfare-maximizing policy mix, demonstrating that a DRS calibrated to marginal recycling effort costs, combined with a collection fee and an emission tax, can effectively mitigate these durability distortions. By integrating consumer discounting and producer commitment problems, this study contributes to the microeconomic foundations of CE policy design and advances the theory of durable goods under environmental policy. | |