How Do Developers Influence the Transaction Costs of China’s Prefabricated Housing Development Process?: An Investigation Through the Bayesian Belief Network Approach

The implementation of prefabricated housing (PH) has become prevalent in China recently due to its advantages in enhancing production and energy-saving efficiency within the construction system. However, stakeholders may not always fully realize the benefits of adopting PH due to the emergence of transaction costs (TCs) in the development...

Optimising the involvement of tenants in the decision-making process for energy efficiency renovation: Revealing behavioural barriers of tenants

Energy efficiency renovation (EER) of the existing residential housing stock is crucial to achieving further decarbonization to be climate neutral by 2050. This transition is particularly challenging for affordable rental housing providers as they have to make intensive investment decisions while balancing rental affordability for their low- and...

From collective to individual decision-making: barriers and opportunities to improve the success rate of the energy retrofits in the Dutch owner-occupied sector

The building sector can contribute considerably to reducing global greenhouse gas (GHG) emissions. In the Netherlands, the GHG emissions must be mitigated by 95% by 2050 relative to the 1990 baseline. Various factors, such as low renovation rates cause uncertainties in reaching these targets. The current study aims for investigating the barriers...

Municipal governance and energy retrofitting of owner-occupied homes in the Netherlands

The building sector is responsible for more than one-third of global greenhouse gas (GHG) emissions. The Netherlands has set an ambitious target to reduce GHG emissions by 95% by 2050 compared to the 1990 baseline. Several factors, such as low retrofitting rates, lead to uncertainties in achieving these targets. In the residential sector, the...

Factors influencing transaction costs of prefabricated housing projects in China: developers' perspective

Purpose: The recent promotion of prefabricated housing (PH) in China has resulted in a prosperous period for its implementation. However, transaction costs (TCs) cause low economic efficiency to stakeholders and hinder the further promotion of PH. No relevant study has yet been made to investigate the TCs and their causes in the PH field....

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...

Stakeholder Perceptions of Transaction Costs in Prefabricated Housing Projects in China

Prefabrication has the potential to improve the efficiency and sustainability of housing production. However, there are various challenges in the realization of prefabricated housing (PH) from the stakeholder's perspective. Transaction costs (TCs) theory provides a particular angle that explains the invisible costs within transactions. This...

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,...

Transaction costs as a barrier in the renovation decision-making process: A study of homeowners in the Netherlands

The renovation of housing stock in the Netherlands has the potential to help achieving the country's climate change targets. However, there are non-monetary Transaction Cost (TC) factors, such as searching for information and finding a reliable professional/contractor, that present barriers to householders when making the decision to renovate...

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...

Unravelling Dutch homeowners’ behaviour towards energy efficiency renovations: What drives and hinders their decision-making?

The housing stock has a considerable share of 40% in energy consumption and 36% of CO ₂ emissions in the EU. In accordance to energy efficiency and emissions targets set by EU, The Netherlands has aimed to renovate 300,000 homes each year, leading to 50% reduction in CO ₂ emissions, by 2050. Many factors including low...

Improving the Supply Chain of Housing Industrialization from Transaction Costs Perspective: A Literature Review

Sustainable development has been the focus of all major industries in the world, especially in the construction industry. As one of the sustainable construction modes, housing industrialization (HI) is now absorbing a growing number of attentions that lead the industry to go green. However, the implementation of HI in China is far from...

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,...