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Sustainability 2016, 8(7), 632; doi:10.3390/su8070632

Peer Effects and Voluntary Green Building Certification

1
Technological Entrepreneurship and Management Program, Arizona State University, Tempe, AZ 85281, USA
2
Morrison School of Agribusiness, Arizona State University, Tempe, AZ 85281, USA
3
School of Banking and Finance, University of International Business and Economics, Beijing 100029, China
*
Author to whom correspondence should be addressed.
Academic Editor: Giuseppe Ioppolo
Received: 6 May 2016 / Revised: 29 June 2016 / Accepted: 30 June 2016 / Published: 5 July 2016
(This article belongs to the Section Economic, Business and Management Aspects of Sustainability)
View Full-Text   |   Download PDF [1706 KB, uploaded 5 July 2016]   |  

Abstract

Empirical evidence is provided to show that peer effects have statistically significant and positive impacts on the diffusion of green building certificates. Application and approval records of green certificates by commercial buildings in NY and AZ are used. The challenge of self-selection is addressed by the usage of fixed effects and the challenge of reflection is addressed by the time lag delay between a building’s application and its approval. Empirical results show that an additional approved LEED certificate within a zip code will increase the probability of a commercial building in the same zip code to apply for a LEED certificate by 3–4 percentage points; an additional approved Energy Star certificate within a zip code will increase the probability of a commercial building in the same zip code to apply for an Energy Star certificate by 1–2 percentage points. View Full-Text
Keywords: peer effects; voluntary green building certificates; technology diffusion peer effects; voluntary green building certificates; technology diffusion
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Qiu, Y.; Yin, S.; Wang, Y.D. Peer Effects and Voluntary Green Building Certification. Sustainability 2016, 8, 632.

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