Research on the Impact of Carbon Market Intervention on the Decision of Construction Enterprises to Adopt Prefabricated Green and Low Carbon Buildings
This paper examines the selection between traditional construction and prefabricated construction models for construction enterprises under the intervention of the carbon market.It considers the economic and environmental benefits of prefabricated buildings and constructs a two-tier principal-agent model of the intensity of government's decision-making subsidies and the level of effort of construction enterprises'decision-making on prefabricated low-carbon investment.It also explores the decision-making influencing factors of construction enterprises choosing prefabricated green and low-carbon construction under the intervention of the carbon market.The results indicate that the primary factor influencing the decision of construction companies to adopt prefabricated green and low-carbon construction methods is the availability of free carbon allocation quotas following the intervention of the carbon market.For construction companies that have already applied prefabricated construction before the intervention of the carbon market,the carbon market intervention can stimulate them to further explore the low-carbon benefits of prefabricated construction and reduce government subsidies.The findings can inform the government's decision to extend the construction carbon market and to develop carbon market response strategies for prefabricated construction enterprises.
carbon market interventionprefabricated construction modetraditional construction modegovernment subsidy