Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Circular Economy 1 Location: B004 Session Chair: Aude Pommeret, IREGE USMB | |
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Recycling and oligopolistic competition in markets for critical minerals 1: Vrije Universiteit Amsterdam and Tinbergen Institute; 2: McGill University and CIREQ We develop a dynamic game in which the supply of a critical mineral originates from an exhaustible oligopolistic primary sector and a competitive recycling sector. Extraction costs of virgin minerals depend on the remaining resource stock, while the supply of recycled materials increases with cumulative past extraction. Allowing for strategic interactions among primary producers who account for the effect of their current extraction on future recycling, we characterize the feedback Nash–Cournot equilibrium. We then investigate how the availability of recycling affects equilibrium supply paths of virgin minerals and overall social welfare. Our results show that the impact of recycling on primary extraction crucially depends on market structure and firms’ resource endowments. Under perfect competition, recycling accelerates virgin extraction, whereas under monopoly it slows extraction. In a duopolistic primary sector, recycling induces a producer with a relatively small resource stock to front-load extraction, followed by reduced supply once recycled materials become sufficiently abundant. By contrast, a producer with a relatively large resource stock reduces virgin supply throughout. | |