Challenges of prefabricated housing in China: Supply chain, Stakeholders, and Transaction costs

Recently, the implementation of prefabricated housing (PH) has become prevalent in China to achieve sustainability while ensuring green construction, innovative products, and higher quality. However, numerous challenges arise, such as the overrun costs, inexperienced workers, and the inefficient management process. High transaction costs (TCs)...

Phenomena in Inverse Stackelberg Games, Part 1: Static Problems

Games are considered in which the role of the players is a hierarchical one. Some players behave as leaders, others as followers. Such games are named after Stackelberg. In the current paper, a special type of these games is considered, known in the literature as inverse Stackelberg games. In such games, the leader (or: leaders) announces his...

Phenomena in Inverse Stackelberg Games, Part 2: Dynamic Problems

Dynamic two-person games are considered, in which the roles of the players are hierarchical. One player behaves as a leader, the other one as a follower. Such games are named after Stackelberg. In the current paper, a special type of such games is considered, known in the literature as inverse Stackelberg games. In such games, the leader...

Transaction Cost and Agency Perspectives on Eco-Certification of Existing Buildings: A Study of Hong Kong

Eco-certification schemes are usually launched with various incentives provided by local governments to facilitate green building development and building energy retrofits. A number of barriers to building energy retrofitting have been identified in previous literature, while the barriers to the eco-certification of existing buildings are under...

Incorporating indirect costs into energy system optimization models: Application to the Dutch national program Regional Energy Strategies

Energy system optimization models are widely used to aid long-term investment decision-making for energy systems. From a socio-technical system viewpoint, existing models focus on the cost modeling of the technical subsystem, while the indirect costs of the social subsystem are not often modeled. This paper incorporates indirect costs into such...

Exploring key risks of energy retrofit of residential buildings in China with transaction cost considerations

Energy retrofit of residential buildings is an approach to reduce worldwide energy consumption. Residential energy retrofitting in China mostly focuses on multi-owner residential buildings with composite ownership that dozens of private homeowners own their apartment and jointly own the common parts of a building. The implementation of...

An analysis of urban renewal decision-making in China from the perspective of transaction costs theory: the case of Chongqing

In China, there is a growing number of urban renewal projects due to the rapid growth of the economy and urbanization. To meet the needs of urban development, urban renewal requires a sound decision-making approach involving various stakeholder groups. However, current urban renewal decision-making is criticized for poor efficiency, equity,...

Stakeholders’ Risk Perception: A Perspective for Proactive Risk Management in Residential Building Energy Retrofits in China

The implementation of energy retrofit of residential buildings faces many risks around the world, especially in China, leading to low retrofit progress. Stakeholders’ proactive risk management is the key to the smooth implementation of retrofit projects but is normally affected by risk perception. Perceived risks instead of real risks are the...

Exploring transaction costs in the prefabricated housing supply chain in China

The growing environmental problems, the rapid urbanization, and the disappearance of the demographic dividend in China has brought unprecedented opportunities to the development of prefabricated housing (PH). However, many barriers are hindering the promotion of PH, for instance, cost, lack of regulations, and the shortage of knowledge, among...