Suchergebnisse

We analyze whether lower rents for energy-inefficient apartments reflect tenants' willingness to pay due to a higher green awareness, purchasing power, or energy consumption costs. Based on a German rental apartment dataset from Q1 2007 to Q1 2019, we use interaction terms for socioeconomic characteristics in a hedonic regression model. We find that rents are lower for apartments with higher energy consumption, even in neighborhoods with lower levels of green awareness. This relationship is stronger in neighborhoods with higher purchasing power, such that communities with low levels of green awareness and high purchasing power show the steepest negative slope for increasing energy consumption (-8.6% from the highest to lowest rating). Thus, the rent-decreasing effect of purchasing power is higher than that of green awareness. Splitting the entire period into smaller windows, we find that the interaction effect of green awareness has emerged in the most recent years (2017-2019). This may be driven by changes in regulation, which have made it easier for tenants to assess the energy consumption before they rent, or by a general increase in green awareness over this period.

Green areas provide aesthetic, recreational, social, and environmental benefits to surrounding communities. Local governments usually face many challenges while deciding on the protection of existing green space or the creation of new one. Understanding the direct economic impacts of green areas on neighboring properties can help with the economic and political decision-making. The aim of this study is to estimate individuals' valuations of green space in a highly densely populated city like Buenos Aires, Argentina. This paper applies spatial hedonic price models to obtain the value of urban green areas, urban trees, and tree cover. The results show a price premium for all green variables, and that not all trees are valued equally. Also, results suggest that more diversity increase the monetary value of a property. Results from this study could help inform the debate on the true opportunity costs of allowing construction over unused parcels of land in Buenos Aires. ; Facultad de Ciencias Económicas

The study examined the impact of green packaging on consumer behaviour. It was measured through willingness to pay since it acts as a proxy for actual behaviour. Using a sample of 343 respondents, the study empirically confirmed the effect of six factors grounded from "theory of consumption values" and "customer value creation framework" that offered uniqueness to green packaging and influenced buyers' willingness to pay a price premium.