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dc.contributor.authorSchlosser, Rainer
dc.contributor.authorChenavaz, Regis Y.
dc.contributor.authorDimitrov, Stanko 14:45:25 (GMT) 14:45:25 (GMT)
dc.descriptionThe final publication is available at Elsevier via © 2021. This manuscript version is made available under the CC-BY-NC-ND 4.0 license
dc.description.abstractIn a circular economy, the use of recycled resources in production is a key performance indicator for management. Yet, academic studies are still unable to inform managers on appropriate recycling and pricing policies. We develop an optimal control model integrating a firm's recycling rate, which can use both virgin and recycled resources in the production process. Our model accounts for recycling influence both at the supply- and demand-sides. The positive effect of a firm's use of recycled resources diminishes over time but may increase through investments. Using general formulations for demand and cost, we analytically examine joint dynamic pricing and recycling investment policies in order to determine their optimal interplay over time. We provide numerical experiments to assess the existence of a steady-state and to calculate sensitivity analyses with respect to various model parameters. The analysis shows how to dynamically adapt jointly optimized controls to reach sustainability in the production process. Our results pave the way to sounder sustainable practices for firms operating within a circular economy.en
dc.relation.ispartofseriesInternational Journal of Production Economics;
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.subjectDynamic pricingen
dc.subjectRecycling investmentsen
dc.subjectOptimal controlen
dc.subjectGeneral demand functionen
dc.subjectCircular economyen
dc.titleCircular economy: Joint dynamic pricing and recycling investmentsen
dcterms.bibliographicCitationSchlosser, R., Chenavaz, R. Y., & Dimitrov, S. (2021). Circular economy: Joint dynamic pricing and recycling investments. International Journal of Production Economics, 236, 108117.
uws.contributor.affiliation1Faculty of Engineeringen
uws.contributor.affiliation2Management Sciencesen

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