Research Seminars @ Illinois

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Tailored for undergraduate researchers, this calendar is a curated list of research seminars at the University of Illinois. Explore the diverse world of research and expand your knowledge through engaging sessions designed to inspire and enlighten.

To have your events added or removed from this calendar, please contact OUR at ugresearch@illinois.edu

Speaker Jeffrey Wagner - The Economics of AI in Waste Management

Event Type
Seminar/Symposium
Sponsor
PERE (Program in Environmental & Resource Economics)
Location
426 Mumford Hall
Virtual
wifi event
Date
Feb 3, 2025   12:30 - 1:30 pm  
Speaker
Jeffrey Wagner, Dept of Economics, RIT
Views
22
Originating Calendar
ACE Seminars

Abstract:
Efficient waste management (WM) depends upon the accurate characterization of each waste unit and identification of its optimal WM supply chain destination. This paper develops a microeconomic model of WM that includes the possibility of investing in artificial intelligence (AI) research and development. While investing in AI is costly, improving waste characterization ability via AI simultaneously reduces the firm’s WM costs and creates additional revenue streams from better-characterized waste sold in secondary markets and from monetizing its AI innovations via intellectual property licensing. The model characterizes specific AI advances in WM of interest to economists, policy makers and waste managers. The economics of AI in pollution control contexts beyond WM are discussed.

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