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Market-based Approach in Shift from Linear Economy Towards Circular Economy Supported by Game Theory Analysis

100%

Dolinsky M., Maier S.

Creative and Knowledge Society

2015

vol. 5

issue 2

1-10

Purpose of the article is to partially describe underpinning economics for the circular economy. A circular economy (closed-loop system) is an advancement from the linear economy (open-loop system) which behaves according to the hierarchy of 6R, preferring reuse, remanufacture or recycle solutions insead of disposal (known also as a „linear dead-end“). This new approach is a trigger of new business models seeking many times vor various kinds of support from the side of government. However, governmental support is not neither the only option nor the most functional one. Underpinning economics for the circular economy can be based also at market-based tools. What we have in mind under this term for the purspose of this paper is the game in the market being played between buyers and sellers. Methodology: We have analyzed this interaction using game theory tool (interactive decision theory). The scietific goal of our paper was to suggest a quick market-based solution how to support circular economy business models whilst helping to the society to solve certain social problems. Our findings have led to a newly proposed way, how the current game in pricing could be changed. An emphasis shall be placed on strategies how to rise prices of linear economy products whilst offering wider social benefits to small sellers of such products. The price increase of linear economy products is considered in this paper as a market-based incentive to support recycled, remanufactured ones, whilst circular economy products are becoming more economically feasible in comparison with more expensive linear economy products.

The First Steps on the Circular Economy Path – Financial Tools

84%

Sołtan m. i. M.

Ekonomika i Organizacja Przedsiębiorstwa

2016

issue 9 (800)

100-109

Recently the economy is moving away from the linear model (take - use - throw away) where extensively used resources and manufactured products after their consumption were mostly landfilled to the circular model in which waste becomes a resource. The shift in the economy might trigger the growth, new jobs and improve competitiveness nonetheless numerous barriers were recognized. Reference is made in particular to financial incentives, organizational solutions and flexible policy. Developing the well-tailored financial instruments for entrepreneurs could support the first step on the path towards the circular economy.

Ostatnio gospodarka przechodzi z modelu linearnego (weź – zużyj – wyrzucić), gdzie zasoby były intensywnie używane, a wytwarzane produkty po ich zużyciu trafiały głownie na składowiska odpadów na model, w którym odpady stają się zasobem. Zmiana modelu na cyrkularny będzie mogła być impulsem dla wzrostu gospodarczego, tworzenia nowych miejsc pracy oraz poprawy konkurencyjności, po uprzednim zidentyfikowaniu barier. W szczególności mowa tu o odpowiednich zachętach finansowych, rozwiązaniach organizacyjnych i dopasowanej polityce. Odpowiedni dobór instrumentów finansowych dla przedsiębiorców mógłby wspierać podjęcie pierwszych kroków na drodze do gospodarki cyrkularnej.

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1 Creative and Knowledge Society

1 Ekonomika i Organizacja Przedsiębiorstwa

1 Dolinsky M.

1 Maier S.

1 Sołtan m. i. M.

1 2016

1 2015

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Market-based Approach in Shift from Linear Economy Towards Circular Economy Supported by Game Theory Analysis

The First Steps on the Circular Economy Path – Financial Tools