Transaction costs (TCs) in green building (GB) incentive schemes: Gross Floor Area (GFA) Concession Scheme in Hong Kong

It is claimed that transaction costs (TCs) affect the effectiveness of any green building (GB) policy. However, few studies have empirically applied TC analysis to GB incentives, which normally should have analyzed the TCs borne by different stakeholders. These include TC typology and determinants during the implementation process, especially...

Costs and Benefits of Implementing Green Building Policy

Green building (GB) policies have been implemented to promote GB and address climate change. Most of the existing literatures have studied the costs and benefits of developing GB, without considerations of GB policies’ impacts. This paper aims to study costs and benefits of implementing GB policy from developers’ perspective. It takes the Gross...

Transaction Costs (TCs) in Building Regulations and Control for Green Buildings: Case Study of Hong Kong

About 40% of global energy consumption and nearly one-third of global CO2 emissions are on account of buildings. In Hong Kong, buildings consume up to 90% of electricity during construction and operation, where all the design and construction of private developments is subject to control under the Buildings<br/>Ordinance. The way building...

Modeling the green building (GB) investment decisions of developers and end-users with transaction costs (TCs) considerations

The paper, through a “regenerative” lens, has focused upon a new conceptual game system involving transaction costs (TCs) for creating a more accessible green buildings (GB) market. Individual stakeholders steadfastly guard their own interests in any investment decision, which seldom considers any positive gains to society. Green buildings,...

Challenges in Delivering Green Building Projects: Unearthing the Transaction Costs (TCs)

Delivering green building (GB) projects involve some activities that are atypical in comparison with conventional buildings. Such new activities are characterized by uncertainty, and they incur hidden costs that have not been expected nor are they readily appreciated among the stakeholders. This paper develops a typology and chronology to...

A critical analysis of risk mitigation measures for target cost contracts in construction industry

A scarcity of empirical research has been observed on risk mitigation measures for those construction projects procured by guaranteed maximum price contracts (GMP) and target cost contracts (TCC) worldwide. This paper aims to seek and examine the risk mitigation measures associated with GMP and TCC (GMP/TCC) construction projects through an...