Do individuals' resist green home investment decisions? An empirical study from status quo bias and inertia perspective

IF 2.4 Q3 ENVIRONMENTAL SCIENCES Frontiers in Sustainable Cities Pub Date : 2023-12-15 DOI:10.3389/frsc.2023.1295357
S. R, Swamy Perumandla
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Abstract

The study explores the influence of Status Quo Bias theory constructs and the mediating role of inertia on individuals' resistance in making sustainable green home investment decisions among Indian homeowners and prospective homebuyers.A structured questionnaire was administered to 404 participants, and data analysis was performed using Partial Least Squares Structured Equation Modeling (PLS SEM).The findings indicate that factors such as loss aversion, transition costs, adherence to social norms, and self-efficacy to change significantly contribute to individuals' resistance to green home investments. Inertia further amplifies the relationship between transition costs, social norms, and self-efficacy to change, but does not mediate the impact of loss aversion.This study is valuable for enhancing our understanding of biases in decision-making processes. To combat this resistance, it is crucial to provide clear information about the benefits of green home upgrades and offer incentives that reduce perceived costs and risks. This research sheds new light on the influence of status quo bias and inertia specifically within the context of green home investment decisions, addressing contemporary concerns for environmental sustainability and the increasing importance of such decisions in today's world.
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个人是否抵制绿色住宅投资决策?从现状偏见和惯性角度的实证研究
本研究探讨了现状偏差理论建构的影响以及惰性对印度房主和潜在购房者在做出可持续绿色住宅投资决策时的个人阻力的中介作用。本研究对 404 名参与者进行了结构化问卷调查,并使用偏最小二乘法结构方程模型(PLS SEM)进行了数据分析。惰性进一步放大了过渡成本、社会规范和改变的自我效能之间的关系,但并没有调解损失规避的影响。为了消除这种阻力,提供有关绿色住宅升级的益处的明确信息,并提供降低感知成本和风险的激励措施至关重要。这项研究揭示了现状偏见和惰性在绿色住宅投资决策中的具体影响,解决了当今世界对环境可持续性的关注以及此类决策日益重要的问题。
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来源期刊
CiteScore
4.00
自引率
7.10%
发文量
176
审稿时长
13 weeks
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