Analysis of the Evolution Game of Construction and Demolition Waste Recycling Behavior Based on Prospect Theory under Environmental Regulation

International Journal of Environmental Research and Public Health
Hong ShenChunxiang Guo

Abstract

With the development of the construction industry, increasing concern over construction and demolition waste (CDW) has initiated a wave of environmental regulation by the government in order to reduce the environmental impact and ensure sustainable development. Research on behavioral decision-making can offer a theoretical basis for the government and individuals. This paper aims to study the behavioral decision-making of stakeholders in CDW recycling under environmental regulation. Considering the limited rationality of stakeholders and the difference in reference points, an evolutionary game model including contractors and manufacturers of construction materials is proposed based on the prospect theory of behavioral economics. The results indicate that, only when the perceived benefits of one or both stakeholders for participation under the environmental regulation exceed those for non-participation, can the CDW recycling system eventually evolve to a stable state in which both stakeholders choose to participate. In addition, factors such as the initial strategy, production cost, technology, subsidies, recycling benefits, and the degree of perception of the stakeholders, exert certain influences on the stable state. To attain...Continue Reading

References

Jan 30, 1981·Science·A Tversky, D Kahneman
Dec 21, 2010·Waste Management·Hongping Yuan, Liyin Shen

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Citations

Oct 17, 2019·International Journal of Environmental Research and Public Health·Deng LiRuwen Tan
Oct 8, 2020·International Journal of Environmental Research and Public Health·Qixiang WangFan Wang
Nov 20, 2020·International Journal of Environmental Research and Public Health·Wenke WangDaming You
Jul 25, 2021·Marine Pollution Bulletin·Lang XuJihong Chen

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Software Mentioned

Matlab

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