Does voluntary disclosure create a green lemon problem? : (Record no. 460)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02357nam a22001937a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20230627153432.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 210623b |||||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| 9 (RLIN) | 436 |
| Personal name | Fuerst, Franz |
| 245 ## - TITLE STATEMENT | |
| Title | Does voluntary disclosure create a green lemon problem? : |
| Remainder of title | energy-efficiency ratings and house prices |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Name of publisher, distributor, etc. | Energy Economics, |
| Date of publication, distribution, etc. | 2018. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 12 pages |
| 500 ## - GENERAL NOTE | |
| General note | KEYWORDS: Energy efficiency, rent prices |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This paper seeks to elucidate whether high levels of non-disclosure lead to adverse market outcomes in the form of the well-known lemons problem. It also empirically tests whether energy-efficiency ratings (EERs) are reflected in both housing sales prices and rents in the Australian Capital Territory, the only Australian housing market with mandatory ratings for all dwellings at point of sale or lease. Using a comprehensive dataset of sale and lease transactions during the period 2011–2016, a hedonic framework is applied. The analysis confirms<br/>that both the reported energy-efficiency levels and other sustainability-related characteristics that are not part of the formal rating assessment influence the pricing of both sales and rental transactions. Characteristics such as heating and cooling systems and the presence of solar power generators are significantly reflected in rents and sales prices, as tenants and buyers are likely to estimate their expected utility costs based on the EER. It is also shown that the option of leaving the EER of a rental property unreported presents a moral hazard for landlords of sub-standard properties, in that the likelihood of EER disclosure increases in line with the number of energy-efficient features of a property as revealed in the marketing material. The analysis also reveals that socio-economically disadvantaged areas suffer from disproportionately higher levels of EER non-disclosure, potentially constituting a ‘double disadvantage’ of non-disclosure and low–energy efficiency dwelling stock. From a market and asset-pricing perspective, it thus seems preferable to extend the requirement to obtain and<br/>present a valid EER to the rental market. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Health & Comfort |
| Geographic subdivision | ACT |
| 9 (RLIN) | 498 |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| 9 (RLIN) | 437 |
| Personal name | Warren-Myers, Georgia |
| 856 ## - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://doi.org/10.1016/j.eneco.2018.04.041">https://doi.org/10.1016/j.eneco.2018.04.041</a> |
| Link text | View item on publishers website |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Use restrictions | Not for loan | Home library | Current library | Date acquired | Date last seen | Uniform Resource Identifier | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No | Dewey Decimal Classification | No | Yes | No | tunsw | tunsw | 23/06/2021 | 23/06/2021 | https://cfiles.tenantsunion.org.au/f/1557 | 23/06/2021 | Article | |
| No | Dewey Decimal Classification | No | No | tunsw | tunsw | 23/06/2021 | 23/06/2021 | https://doi.org/10.1016/j.eneco.2018.04.041 | 23/06/2021 | Article |