Abstract
The degree of market concentration is an important investigative tool used by competition authorities, as well as any public entity or undertaking that is interested in a specific market. There are several market concentration indices, but the most popular measure for computing the degree of market concentration is the Herfindahl–Hirschman Index (HHI). However, a limitation of this indicator is that its computation requires data on all the entities that are active in a market. Therefore, due to the large number of companies in some specific markets, sometimes it is cumbersome to compute the HHI. The aim of this paper was to develop an algorithm to estimate as accurately as possible the HHI in such cases, so that the degree of market concentration can be identified. An interdisciplinary application of this method on the Romanian biomass sector is presented at the end of this paper.
Highlights
The prosperity of the countries and societies in the European Union (EU) depend on the use of natural sources
An interdisciplinary application of this method on the Romanian biomass sector is presented at the end of this paper
The growing demand for materials in EU countries puts their natural resources at danger
Summary
The prosperity of the countries and societies in the European Union (EU) depend on the use of natural sources. The growing demand for materials in EU countries puts their natural resources at danger. It creates pressures on the environment, including biodiversity loss, climate change, soil degradation, scarcity of fertile land and waste accumulation. Biomass is the most important renewable energy sector and has grown in importance in recent decades. The studies conclude that the efficient production of biomass has significant benefits for the environment, such as lowering the levels of carbon dioxide. Other studies [5,6,7] analyzed the increasing importance of the biomass sector in the context of the increasing shares of renewable energy in total energy consumption at the EU level
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