Construction and demolition waste (C&DW) recycling can effectively reduce the environmental impacts caused by the massive amounts of untreated C&DW, and can promote the sustainable development of the construction industry. This study aims to provide relevant insights for the implementation of C&DW recycling, and can be practically used to guide participants' dynamic strategies in the presence of both the reference price effect and cost learning effect. Based on game theory, a static model is developed as a benchmark, including a construction materials manufacturer and a C&DW recycler under a government subsidy. Then, a dual-period dynamic model combining the learning and reference effects is established to broaden the understanding of C&DW recycling management. On this basis, the decisions and revenues of players are compared and analysed, and managerial insights are obtained through numerical analysis. It is found that both the learning and reference effects affect the manufacturer's decisions and revenues, and that the reference effect has a much greater impact on profit than the learning effect. In addition, only the learning effect has a positive influence on the recycler's recycling efforts and profits, thereby promoting C&DW recycling and reducing environmental impacts. Moreover, government subsidies always benefit the environment and recycler, and as the learning ability becomes stronger, the subsidy becomes more efficient in reducing the environmental impacts and improving the recycler's profit. Comparatively, the impact of subsidy on the manufacturer's profits depends on the learning ability. When the learning ability is relatively high, a higher subsidy is detrimental to the manufacturer in the short term but benefits it in the long term.

建筑拆迁废料的回收利用可以有效减少大量未经处理的拆建废料对环境的影响，并可以促进建筑业的可持续发展。这项研究旨在为实施C＆DW回收提供相关见解，并且在参考价格效应和成本学习效应同时存在的情况下，可以实际用于指导参与者的动态策略。根据博弈论，开发了一个静态模型作为基准，其中包括在政府补贴下的建筑材料制造商和垃圾处理厂回收商。然后，建立了一种结合了学习效果和参考效果的双周期动态模型，以拓宽对C＆DW回收管理的理解。以这个为基础，比较并分析参与者的决策和收入，并通过数值分析获得管理洞察力。发现学习效应和参考效应都影响制造商的决策和收入，并且参考效应对利润的影响远大于学习效应。此外，只有学习效果才能对回收商的回收工作和利润产生积极影响，从而促进C＆DW回收并减少环境影响。此外，政府补贴始终使环境和回收商受益，随着学习能力的增强，补贴在减少环境影响和提高回收商利润方面变得更加有效。比较而言，补贴对制造商的影响 利润取决于学习能力。当学习能力相对较高时，较高的补贴在短期内不利于制造商，但从长期来看是有益的。