Abstract
Ecological value realization of blue carbon in marine ranching is essential to achieve carbon neutrality. The motivation for conducting the study is to verify whether multi-agent cooperation can promote the ecological value realization of blue carbon in marine ranching. Based on the blue carbon ecological value realization model of marine ranching enterprises, blue carbon demand enterprises, blue carbon trading platforms and government, this paper explores the cooperative governance strategy of marine ranching for each subject using cooperative game and non-cooperative game models. Further, we conduct a comparative analysis to arrive at the optimal strategy. The conclusions are as follows. Multi-agent cooperation is more conducive to the ecological value realization of blue carbon in marine ranching. Compared with non-cooperative governance, the platform's commission and blue carbon price are lower, and the blue carbon output, profit of each market subject, government utility and overall profit are higher in cooperative governance. The strengths of this paper lie in 2 aspects. First, we focuses on the ecological value of blue carbon in marine ranching instead of economic value, providing a new theoretical basis for ecological compensation in marine ranching. Second, we construct a government-led and market-oriented operation of marine ranching's blue carbon ecological value realization mechanism, incorporating blue carbon trading platform and government into the value realization model.