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New generation acceptability towards durability and repairability of products: Circular economy in the era of the 4th industrial revolution

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  • Bigerna, Simona
  • Micheli, Silvia
  • Polinori, Paolo

Abstract

The 4th industrial revolution (4IR) is in its early stage, and the exploitation of all its potential benefits is the challenge of the future. This revolution involves product information for consumers, which is relevant for addressing circular economy (CE) principles. The consumer is crucial for CE development, buying or not buying new, sustainable products designed according to CE principles and 4IR technologies. This is especially true for the new generations who will be the future consumers. We analyze the importance of younger generations in supporting these new products. In particular, the aim is to evaluate to what extent the market is able to sustain durability and repairability of CE characteristics of products included in the 4IR. Using a contingent valuation approach according to the theory of planned behavior, we investigate the willingness of university students to pay for smartphones produced with ecolabels that indicate such characteristics, attested by either paper-based scheme or blockchain technology. Results reveal that some variables, such as parental education, household income, and age, positively affect both participation and willingness to pay (WTP) the stated amount. Durability is always preferred to repairability, and paper-based scheme is preferred to blockchain technology. Interestingly, a good percentage of respondents are willing to support blockchain transition. Other results contribute to several strategic suggestions for developing sustainable products attaining CE and 4IR technologies.

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  • Bigerna, Simona & Micheli, Silvia & Polinori, Paolo, 2021. "New generation acceptability towards durability and repairability of products: Circular economy in the era of the 4th industrial revolution," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    • Handle: RePEc:eee:tefoso:v:165:y:2021:i:c:s0040162520313846
    DOI: 10.1016/j.techfore.2020.120558
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    2. Benedikt M. Brand & Theresa Maria Rausch & Jannika Brandel, 2022. "The Importance of Sustainability Aspects When Purchasing Online: Comparing Generation X and Generation Z," Sustainability, MDPI, vol. 14(9), pages 1-28, May.
    3. Moacir Godinho Filho & Luiza Monteiro & Renata de Oliveira Mota & Jessica dos Santos Leite Gonella & Lucila Maria de Souza Campos, 2022. "The Relationship between Circular Economy, Industry 4.0 and Supply Chain Performance: A Combined ISM/Fuzzy MICMAC Approach," Sustainability, MDPI, vol. 14(5), pages 1-21, February.
    4. Rizzati, Massimiliano & Landoni, Matteo, 2024. "A systematic review of agent-based modelling in the circular economy: Insights towards a general model," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 617-631.
    5. Dangelico, Rosa Maria & Alvino, Letizia & Fraccascia, Luca, 2022. "Investigating the antecedents of consumer behavioral intention for sustainable fashion products: Evidence from a large survey of Italian consumers," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    6. Bootz, Jean-Philippe & Michel, Sophie & Pallud, Jessie & Monti, Régine, 2022. "Possible changes of Industry 4.0 in 2030 in the face of uberization: Results of a participatory and systemic foresight study," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    7. Yasanur Kayikci & Nazlican Gozacan‐Chase & Abderahman Rejeb & Kaliyan Mathiyazhagan, 2022. "Critical success factors for implementing blockchain‐based circular supply chain," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3595-3615, November.
    8. Teixeira, Josélia Elvira & Tavares-Lehmann, Ana Teresa C.P., 2022. "Industry 4.0 in the European union: Policies and national strategies," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    9. Yasemin Eroglu & Lubna Rashid, 2022. "The Impact of Perceived Support and Barriers on the Sustainable Orientation of Turkish Startups," Sustainability, MDPI, vol. 14(8), pages 1-14, April.
    10. Govindan, Kannan & Jain, Preeti & Kr. Singh, Rajesh & Mishra, Ruchi, 2024. "Blockchain technology as a strategic weapon to bring procurement 4.0 truly alive: Literature review and future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 181(C).

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    More about this item

    Keywords

    4th industrial revolution; Circular economy; Contingent valuation; Willingness to pay; University students; Smartphone repairability and durability;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities

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