A waste management model for optimal recycling-landfilling policies under macroeconomic conditions

Chang-Chih Chen, So-De Shyu, Yen-Chun Wu and Chih-Yuan Yang

Economic Modelling, 2011, vol. 28, issue 3, 852-858

Abstract: This research provides a waste management model in the presence of macroeconomic conditions. An optimal control problem which integrates the recycling-landfilling decision with industry supply-demand dynamics is designed to achieve the value-maximizing objective. The model simultaneously considers idiosyncratic technical and aggregate demand shocks, while the stoppage time for landfill use is assumed to follow a Cox process with the intensity function of a firm's total waste collection. The closed-form solution of the optimal recycling ratio is also derived. The results suggest that when macroeconomic effects are neglected, optimal recycling ratios tend to be underestimated.

Keywords: Waste; management; policies; Optimal; recycling; ratio; Macroeconomic; conditions (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:28:y:2011:i:3:p:852-858

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