A Coordinated Multi-Product Market for Organic Waste Management
Keywords
markets, products, waste, technologies, efficiency
Start Date
25-6-2018 9:00 AM
End Date
25-6-2018 10:20 AM
Abstract
Organic waste represents an environmental, economic and social stressor. We propose a coordinated market framework to exchange waste streams and transform them into valuable products. Our framework is motivated and designed after coordinated electricity markets that currently exist in operation and that have led to high economic efficiency and technology innovation. In the proposed framework, generators and consumers of waste and derived products as well as technology and transportation providers bid into the market to offer services. Prices for waste and derived products are obtained by solving a market clearing problem that balances products across a supply chain network that connects all market participants. We prove that the derived prices are efficient, in the sense that they cover marginal costs of the market players. This framework allows the incorporation of regulatory drivers as well as environmental and social constraints to facilitate a waste management strategy. Finally, we present a case study to demonstrate the capabilities and scope of the proposed framework.
A Coordinated Multi-Product Market for Organic Waste Management
Organic waste represents an environmental, economic and social stressor. We propose a coordinated market framework to exchange waste streams and transform them into valuable products. Our framework is motivated and designed after coordinated electricity markets that currently exist in operation and that have led to high economic efficiency and technology innovation. In the proposed framework, generators and consumers of waste and derived products as well as technology and transportation providers bid into the market to offer services. Prices for waste and derived products are obtained by solving a market clearing problem that balances products across a supply chain network that connects all market participants. We prove that the derived prices are efficient, in the sense that they cover marginal costs of the market players. This framework allows the incorporation of regulatory drivers as well as environmental and social constraints to facilitate a waste management strategy. Finally, we present a case study to demonstrate the capabilities and scope of the proposed framework.
Stream and Session
Stream C: Integrated Social, Economic, Ecological, and Infrastructural Modeling
C2: Application of Decision Support Tools for Integrated Water Resources Management