中文摘要：

全球气候变化问题已经引起世界各国的高度关注，减少二氧化碳排放成为国际共识。为此推出的减排机制——碳排放交易机制必将对企业的决策产生重要影响。为探讨碳排放交易机制以及减排技术投资对制造型企业的生产库存决策的影响，基于Arrow—Cadin模型建立碳排放交易机制下的动态生产库存模型，分析减排技术投资可变时制造型企业的最优生产率、库存水平、成本、碳交易量与碳排放量，并与不存在碳排放交易机制的情况进行对比。研究结果表明：任碳排放交易机制下，制造商倾向于减少碳排放，出售部分碳排放配额，生产计划波动性减少，生产库存成本增加，总成本下降；增加减排技术投资，制造商会出售更多的碳排放配额，生产计划波动性增加，库存下降，总成本进一步下降。

英文摘要：

Climate changing has attracted the world＇s attention and the reduction of carbon emission has become international consensus. Carbon emission trading as one of the most effective carbon reducing mechanisms will have impact on manufacturers＇ decisions inevitably. This paper aims to study the effects of carbon emission trading and carbon reducing investment on the production-inventory strategy. Based on the well-known Arrow-Carlin model, a dynamic production-inventory model was built in the context of carbon emission trading. The optimal production rate, inventory level, total cost, carbon trading and emission were compared before carbon emission trading and thereafter. Furthermore, this paper analyzed the production-inventory strategy with the changing of carbon reducing investment. The results showed that manufacturers tended to sell part of their emission permits and production plan became more fiat; although the cost of production and inventory rose, the total cost dropped; when the investment of emission reducing technology went up, more permits would be sold and production plan fluctuated more severely, which leaded to a lower inventory and total cost.