The processes regarding the circular economy in the European parliament and related issues, discussions, activities and challenges-A personal approach

Abstract

Game theories can provide useful insight into why seemingly rational people make seemingly irrational choices. The theories seek to explain how rules of action affect people's decision-making and choices. Sensible and well-meaning people make choices that affect them and their surroundings negatively if the incentives and the rules are tuned to support such behaviour. If greediness and short-sighted action are rewarded by the system, while simultaneously long-term stability and altruism are repelled, the results will not favour long-term solutions benefiting us all. This is why we need a paradigm and regulatory change to disincentive short-termism and incentivise circular economy.