A hybrid model of external environmental benefits compensation to practitioners for the application of prefabricated construction |
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| Institution: | 1. School of Mechanical Engineering, Tongji University, Shanghai 200092, China;2. School of Construction Management and Real Estate, Chongqing University, Chongqing 400045, China;3. Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong;4. School of Environmental Science and Engineering, Tianjin University, Tianjin 300072, China;1. Department of Building and Real Estate, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong;2. Faculty of Business, Law and the Built Environment, Salford University, Salford, United Kingdom;1. School of Management Science and Engineering, Central University of Finance and Economics, Beijing 100081, China;2. School of Civil Engineering, Tsinghua University, Beijing 100084, China;3. McCormick School of Engineering, Northwestern University, Evanston 60208, USA;4. School of Environment, Beijing Normal University, Beijing 100875, China;5. M.E. Rinker, Sr. School of Construction Management, University of Florida, Gainesville 32611, USA;1. School of Economics and Management, Chang’ an Univ, Center for Green Engineering and Sustainable Development, The Youth Innovation Team of Shaanxi Universities, Chang’ an Univ, Xi’an, Shaanxi, 710064, China;2. School of Economics and Management, Chang’ an Univ, Xi’an, Shaanxi, 710061, China;1. School of Construction Management and Real Estate, Chongqing University, Chongqing, 400045, China;2. Department of Building and Real Estate, The Hong Kong Polytechnic University, Hong Kong, China;3. College of Civil Engineering, Shenzhen University, Shenzhen, China;4. China Development Bank, China |
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| Abstract: | As the creators of the external benefits of prefabricated construction implementation, the government, real estate developers, and homebuyers have the right to allocate the external benefits. However, there is no effective quantitative method for achieving this goal. Therefore, this study aims to develop a quantitative analysis model for the reasonable allocation of the external benefits among the creators. The externality theory and bargaining theory were introduced to this study as the research foundation. Through literature review, the environmental benefit quantification index was defined. A bargaining model including Game 1 and Game 2 was designed for determining the external benefits allocation ratios for each player. In Game 1, the government was considered as the agent of homebuyers to conduct the bargaining game with real estate developers. Game 2 reflected the bargaining game process between the government and homebuyers for sharing the ratio of external benefits achieved from Game 1. The powerful position in bargaining game and discount factors of each player were considered as the critical factors influencing the distribution ratio because the value will change with the development of prefabricated construction. A prefabricated construction building was selected as a case to illustrate the applicability of this proposed model. The distribution result is that the government, the real estate developers, and homebuyers should share the external benefits of prefabrication implementation by 38%, 35%, and 27% respectively. This study contributes to aiding the creators to achieve optimal benefits allocation and thus motivates the enthusiasm of practitioners in prefabricated construction implementation. |
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