Study on value Co-creation and evolution game of low-carbon technological innovation ecosystem

• Published in: Journal of cleaner production 2023-08, Vol.414, p.137720, Article 137720
• Main Authors: Shi, Tengfei, Han, Fengxia, Chen, Lan, Shi, Jianwei, Xiao, Hanjie
• Format: Article
• Language: English
• Subjects: carbon; climate change; Collaborative innovation; ecosystems; evolution; Evolutionary game; income; Innovation ecosystem; Low-carbon technology innovation; technology; Value co-creation
• ISSN: 0959-6526; 1879-1786
• DOI: 10.1016/j.jclepro.2023.137720

As climate change becomes more and more serious, governments and enterprises have gradually attached great importance to achieving value creation through low-carbon technology innovation. However, the low innovation capability of low-carbon technology, the need to improve government regulation, and the low investment of financial institutions make value creation face great challenges. In this paper, a game model of value co-creation evolution in a low-carbon technological innovation ecosystem is constructed with enterprises, governments, and financial institutions as the main body. The results show that: (1) The best optimal evolutionary stabilization strategy is (collaborative innovation, loose regulation and support), that is, the optimal strategic goal of value co-creation; (2) When the comprehensive expenditure for collaborative innovation of low-carbon technologies and independent innovation of enterprises is less than the comprehensive income, the expansion of R&D costs, carbon emission gap, liquidated damages, synergistic advantage benefits and collaborative innovation support can promote the collaborative innovation of low-carbon technologies of enterprises; (3) In the absence of public credibility, the government can expand the subsidy for collaborative innovation of low-carbon technologies of enterprises or appropriately reduce the regulatory costs, so as to achieve the effect of loose regulation; (4) If the return on investment obtained by financial institutions from supporting low-carbon technology innovation is more than that of non-support, the return on investment ratio and penalty coefficient of low-carbon technology innovation can be increased, and the financial institution's willingness to invest in the collaborative innovation of low-carbon technologies shall be enhanced. •The evolutionary game model of value co-creation is constructed.•The optimal strategy of value co-creation is determined.•The key factors affecting the optimal strategy are determined.