Modeling the Circular Economy Processes at the EU Level Using an Evaluation Algorithm Based on Shannon Entropy

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ID: 93378
2018
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Abstract
In this paper we propose a methodology to study circular economy processes based on mathematical modelling. In open-ended systems, waste could be converted back to recycling, transforming the economy from linear to circular. The concept of entropy and the second law of thermodynamics give the argument for a scale reduction of material circulation. As humans extract more and more energy and matter for the economy, the degree of entropy is likely to increase. Based on the findings of economic studies on the implications of industrialization in the case of growing economies, this study aims at evaluating circular economy processes at the European Union (EU) level using a Shannon-Entropy-based algorithm. An entropy-based analysis was conducted for the 28 European Union countries during the time frame 2007⁻2016. The modelling process consists of constructing a composite indicator which is composed of a weighted sum of all indicators developed by an algorithm based on Shannon Entropy. The weights assigned to each indicator in our analysis measure the significance of each indicator involved in the development of the composite indicator. The results are similar to the international rakings, consolidating and confirming the accuracy and reliability of this approach.
Reference Key
busu2018modelingprocesses Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Busu, Cristian;Busu, Mihail;
Journal processes
Year 2018
DOI
DOI not found
URL
https://www.mdpi.com/2227-9717/6/11/225
Keywords
chemistry microscopy Chemical technology Engineering (General). Civil engineering (General) Biotechnology Technology Electrical engineering. Electronics. Nuclear engineering Descriptive and experimental mechanics chemical engineering

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