The price of innovation: An analysis of the marginal cost of green buildings
| Autor: | Nils Kok, Piet Eichholtz, Andrea Chegut |
|---|---|
| Přispěvatelé: | Finance, RS: GSBE Theme Sustainable Development, RS: GSBE Theme Learning and Work |
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Marginal cost
Economics and Econometrics Building codes Environment and Trade Sustainability Environmental Accounts and Accounting Environmental Equity Innovation and Invention: Processes and Incentives Management Monitoring Policy and Law Technical change q55 - Environmental Economics: Technological Innovation Carbon externality 0502 economics and business Economics Market barriers 050207 economics Industrial organization Market failure INVESTMENTS ECONOMICS Environmental Economics: Technological Innovation o31 - Innovation and Invention: Processes and Incentives 05 social sciences r33 - Nonagricultural and Nonresidential Real Estate Markets Environmental innovation Environment and Development Population Growth construction costs Energy efficiency Value (economics) Nonagricultural and Nonresidential Real Estate Markets 050202 agricultural economics & policy Green building ENERGY-EFFICIENCY Externality Efficient energy use |
| Zdroj: | Journal of Environmental Economics and Management, 98:102248. Academic Press Inc. |
| ISSN: | 0095-0696 |
| Popis: | Energy efficiency plays an important role in reducing the carbon externality from buildings, but economic analyses of more efficient, green building have thus far ignored input costs. This paper finds that the average marginal cost of green-labeled construction projects is smaller than the value premiums documented in the literature. However, design fees, representing just a fraction of development costs but paid largely up-front, are significantly higher for green construction projects. These projects also take longer to complete. The results provide some insight into the market barriers and market failures that may explain the relatively slow adoption of otherwise economically rational green construction practices. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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