This article focuses on the technological aspect of recycling, its effect on the production set of the economy and the optimal use and substitution of natural resources in production. We provide a framework that enables us to compare the relevance of using renewable resources and recyclable resources for sustainability. A generalization of the traditional concept of Production Function is proposed: the Production and Recycling Function, which represents the production set when a recycling technology is available.
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Find related papers by JEL classification: C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
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