Abstract
AbstractThis paper presents a specific examination of decision‐making of economic agents in a recycling system and analyzes recycling as a social system. A market model for collecting used products is constructed based on market microstructure theory. In addition to the theoretical analyses, we examine the behavior of each decision‐maker and the overall recycling system using the multiagent system that comprises both human subjects and computerized agents. Results show that the theoretically best case is not good in experiments. Moreover, this paper also presents discussion of institutional design by comparing experimental results with current institutions using real‐world data for several types of products. © 2007 Wiley Periodicals, Inc. Syst Comp Jpn, 38(8): 20–31, 2007; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/scj.20622
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
