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Critical Mineral Depletion and Recycling: From the Perspective of the Cooperation and Open-Loop Competition
Ruan, Weihua; Zou, Benteng
2023
 

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Keywords :
critical mineral,; recycling, import and export,; differential game.
Abstract :
[en] Critical minerals are essential to the success of the transition to clean and sustainable technology. However, critical minerals face supply chain disruption, resource depletion, a lack of recycling technology and minimum demand, which may be increasing over time, at least in the short run. This paper models critical mineral extraction and recycling strategies under international cooperation and open-loop commitment competition. We show that (1) recycling technology can only partially reduce dependence on the virgin supply of critical minerals, given that recycling essentially relies on the accumulated supply from depletable resources; (2) the social planner's Markovian optimal market supply is based on either virgin or recyclable resources, with the more socially desirable being used first; (3) if the recyclable resource is exhausted, the social planner does not have an optimal choice regarding how to exploit the remaining virgin resource; but (4) under open-loop commitment, the two resources can coexist until the virgin resource is exhausted.
Disciplines :
Quantitative methods in economics & management
Author, co-author :
Ruan, Weihua
Zou, Benteng  ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Economics and Management (DEM)
Language :
English
Title :
Critical Mineral Depletion and Recycling: From the Perspective of the Cooperation and Open-Loop Competition
Publication date :
May 2023
Focus Area :
Sustainable Development
Available on ORBilu :
since 17 May 2023

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