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Article

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

Faculty of Management, The Bucharest University of Economic Studies, 6 Piata Romana, 1st District, 010374 Bucharest, Romania
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Processes 2018, 6(11), 225; https://doi.org/10.3390/pr6110225
Received: 23 October 2018 / Revised: 6 November 2018 / Accepted: 13 November 2018 / Published: 16 November 2018
(This article belongs to the Special Issue Energy, Economic and Environment for Industrial Production Processes)
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. View Full-Text
Keywords: circular economy; processes; rational entropy; economic model of sustainability; algorithm; resources; negative externalities; positive externalities circular economy; processes; rational entropy; economic model of sustainability; algorithm; resources; negative externalities; positive externalities
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MDPI and ACS Style

Busu, C.; Busu, M. Modeling the Circular Economy Processes at the EU Level Using an Evaluation Algorithm Based on Shannon Entropy. Processes 2018, 6, 225. https://doi.org/10.3390/pr6110225

AMA Style

Busu C, Busu M. Modeling the Circular Economy Processes at the EU Level Using an Evaluation Algorithm Based on Shannon Entropy. Processes. 2018; 6(11):225. https://doi.org/10.3390/pr6110225

Chicago/Turabian Style

Busu, Cristian, and Mihail Busu. 2018. "Modeling the Circular Economy Processes at the EU Level Using an Evaluation Algorithm Based on Shannon Entropy" Processes 6, no. 11: 225. https://doi.org/10.3390/pr6110225

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