Publication

Dynamic interaction of market and behavioural barriers in the transition towards a circular economy: a heterogeneous-agent approach

2017
Book Chapters

Abstract

In this paper we analyse transition towards circular economy as a complex adaptive system focusing on the market and behavioural barriers. We investigate the conditions for successful introduction of a new production which is appropriate for a circular economy, ‘circular’ product with a focus on the contribution of underlying demand-side behavioural factors. To do that, we develop a heterogeneous agent model in which consumers are modelled to choose between two varieties of a consumer good/service in the market: a ‘circular’ product/service type and a ‘non-circular’ t type. The results and methods developed in this paper is applied to a use case of recycling of rubbers in the Netherlands.

Official source

https://infoscience.epfl.ch/entities/publication/86887e59-7c64-4c46-ac34-b3290972144c

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2017
Book Chapters

Abstract

Official source

https://infoscience.epfl.ch/entities/publication/86887e59-7c64-4c46-ac34-b3290972144c

About this result

Related concepts (28)

Representative agent

Economists use the term representative agent to refer to the typical decision-maker of a certain type (for example, the typical consumer, or the typical firm). More technically, an economic model is said to have a representative agent if all agents of the same type are identical. Also, economists sometimes say a model has a representative agent when agents differ, but act in such a way that the sum of their choices is mathematically equivalent to the decision of one individual or many identical individuals.

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In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy. Typically, every agent makes decisions by solving a well- or ill-defined optimization or choice problem. For example, buyers (consumers) and sellers (producers) are two common types of agents in partial equilibrium models of a single market. Macroeconomic models, especially dynamic stochastic general equilibrium models that are explicitly based on microfoundations, often distinguish households, firms, and governments or central banks as the main types of agents in the economy.

Intelligent agent

In artificial intelligence, an intelligent agent (IA) is an agent acting in an intelligent manner; It perceives its environment, takes actions autonomously in order to achieve goals, and may improve its performance with learning or acquiring knowledge. An intelligent agent may be simple or complex: A thermostat or other control system is considered an example of an intelligent agent, as is a human being, as is any system that meets the definition, such as a firm, a state, or a biome.