Research On Discount Rate Based On Consumer Green Behavior

The value of discount rate has always been one of the most important issues in the economics of climate change.Research on the discount rate directly affects the formulation of climate policies,thereby affecting the survival of future generations of mankind.With the implementation of climate policies such as "planting afforestation" and "energy saving and emission reduction",in order to pursue the goal of carbon peak and carbon neutrality,my country advocates the emission reduction of the whole society,and green and low-carbon behavior has become a trend.The awareness of human beings to actively,consciously and autonomously carry out green behavior is generally enhanced,and the concept of consumption has also changed,and consumption under green behaviors has gradually become a common pattern.Therefore,in the discount rate model,this paper considers three forms of consumer goods: ordinary consumer goods,ecological environment quality goods and green behavior consumer goods.The research on the discount rate of green behavior in this article is divided into qualitative analysis and quantitative analysis.In the qualitative analysis,first,construct the green behavior discount rate model based on the traditional discount rate model.Second,based on the theory of consumer preference and random dominance,at the consumer level,define consumer preferences under green behavior,including consumer-related loss aversion and caution;at the commodity level,define dominant and risky assets for the three commodities.Finally,based on the green behavior discount rate model,consumer preference psychology and asset theory,analyze the dominant situation of the three commodities,obtain various factors that affect green behavior,and complete the qualitative analysis of the discount rate.In quantitative analysis,choose different consumer utility functions to clarify the discount rate of green behavior: under certain conditions,use the Cobb-Douglas utility function to discuss the discount rate under uncertain conditions,not only get the specific form of discount rate,but also carry on the real value calibration analysis to the discount rate;under certain conditions,use the CES utility function to study the specific form and term structure of green behavior discount rate.Through the research on the discount rate of consumers’ green behavior,in the qualitative analysis,seven effects that affect the discount rate of green behavior are obtained.In general,the impact of these effects on the discount rate is: when three consumer goods each face a predetermined loss or risks,in order to withstand the losses caused by unstable commodity consumption,the discount rate of green behaviors is reduced.In the quantitative analysis,the form of the discount rate of green behavior under uncertain conditions was determined,and China was selected as the data source country,the result of real-value calibration was obtained: approximately,the discount rate of green behavior was 2.0363%.Under certain conditions,the study found that the discount rate of green behaviors has a decreasing term structure,that is,the discount rate of green behaviors will decrease with the increase of time.