Collaborative government-public efforts in driving green technology innovation for environmental governance in PPP projects: a study based on prospect theory

Abstract

PurposeThe paper aims to elucidate effective strategies for promoting the adoption of green technology innovation within the private sector, thereby enhancing the value of public–private partnership (PPP) projects during the operational phase.Design/methodology/approachUtilizing prospect theory, the paper considers the government and the public as external driving forces. It establishes a tripartite evolutionary game model composed of government regulators, the private sector and the public. The paper uses numerical simulations to explore the evolutionary stable equilibrium strategies and the determinants influencing each stakeholder.FindingsThe paper demonstrates that government intervention and public participation substantially promote green technology innovation within the private sector. Major influencing factors encompass the intensity of pollution taxation, governmental information disclosure and public attention. However, an optimal threshold exists for environmental publicity and innovation subsidies, as excessive levels might inhibit technological innovation. Furthermore, within government intervention strategies, compensating the public for their participation costs is essential to circumvent the public's “free-rider” tendencies and encourage active public collaboration in PPP project innovation.Originality/valueBy constructing a tripartite evolutionary game model, the paper comprehensively examines the roles of government intervention and public participation in promoting green technology innovation within the private sector, offering fresh perspectives and strategies for the operational phase of PPP projects.