This paper analyzes the transaction prices of green buildings assessed on the basis of multiple green factors. Our theoretical model demonstrates that the initial green premium can be negative but becomes positive as the building ages if a green building has a higher life-cycle cost and a longer...

Chapter 1 Introduction: Purpose and Organization of This Book -- Part I Housing Markets and the Macro Economy -- Chapter 2 House-Price Dynamics and Effects on the Macro Economy -- Chapter 3 Housing Market Imperfections and Distortions Resulting from Criteria Based on House Floor Space -- Chapter...