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...

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...

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...

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...

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...

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...