- Title
- Stakeholders embrace green construction as the right direction: but as individual they make self-interested decisions
- Creator
- Hammond, Sammy F.; Savage, David A.; Gajendran, Thayaparan; Maund, Kim
- Relation
- CIB World Building Congress 2019. Proceedings of CIB World Building Congress 2019 (Hong Kong, China 17-21 June, 2019)
- Publisher
- International Council for Research and Innovation in Building and Construction
- Resource Type
- conference paper
- Date
- 2019
- Description
- This paper explores the gap between the acceptance of the green construction agenda and its slow adoption and implementation. From a behavioural economics viewpoint, we apply insights from game theory, particularly, the 'Stag Hunt' game model to explain the individual building construction stakeholder's decision-making process in order to understand how costs, risks, market structures and regulations can create barriers to general adoption and implementation of green construction. Furthermore, we examine how knowledge and information asymmetry further complicate these issues. We demonstrate that it is at the individual level of choice that building construction stakeholders are reluctant to adopt green construction. Specifically, individual building construction stakeholders' decision-making follow game-theoretic predictions-self-interested choices. These individual preferences aggregate into the group decision, bringing about the tendency for building construction stakeholders to prefer non-adoption to adoption. The aim of this paper is achieved through a literature review. This study suggests that in order to change this behaviour, future research should be undertaken to investigate other factors associated with self-interest which hinder the adoption of green construction. In addition, further research can be undertaken to support, rebut, or modify this study's conclusion by using experimental games.
- Subject
- green construction; sustainable construction; behavioural economics; barriers; game theory; decision-making
- Identifier
- http://hdl.handle.net/1959.13/1452390
- Identifier
- uon:44429
- Identifier
- ISBN:9789623678216
- Language
- eng
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