Energy performance certification and time on the market

Aydın, Erdal and Correa, Santiago Bohórquez and Brounen, Dirk (2019) Energy performance certification and time on the market. Journal of Environmental Economics and Management, 98 . ISSN 0095-0696 (Print) 1096-0449 (Online)

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This paper analyzes whether energy performance certificates (EPCs) serve as means to reduce the information asymmetry among market participants during the sale of homes. Using a sample of 876,000 single-family homes in the Netherlands, we examine the impact of EPC adoption on the speed of sale. Our results indicate that energy-rated homes sell faster than non-energy-rated homes, an effect that varies by 7–12 percent depending on model specifications and increases when positive (green) ratings are granted. The information conveyed by these certificates reduces the information asymmetry between buyers and sellers, which helps to reduce the uncertainty of quality.
Item Type: Article
Uncontrolled Keywords: Energy efficiency; Energy performance certificate; Housing market; Information asymmetry; Time on the market
Divisions: Faculty of Arts and Social Sciences
Depositing User: Erdal Aydın
Date Deposited: 28 Jul 2023 09:55
Last Modified: 28 Jul 2023 09:55

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