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Title: Incentives for Information Provision: Energy Efficiency in the Spanish Rental Market

Author(s): Xueying Bian and Natalia Fabra

Publication Date: October 2018

Keyword(s): adoption rate, asymmetric information, energy efficiency and rental market

Programme Area(s): Industrial Organization

Abstract: We build a search model with asymmetric information regarding houses´ energy efficiency. The objective is to shed light on the house owners` incentives to obtain and disclose energy certificates (ECs) in the rental market. Such incentives depend not only on the rent premium for more efficient houses - as has been widely documented - but also on the rent penalty for unlabeled houses. Interestingly, we show that such a penalty is higher the greater the disclosure rate of ECs. The theoretical predictions are empirically quantified in the context of the Spanish rental market.

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Bibliographic Reference

Bian, X and Fabra, N. 2018. 'Incentives for Information Provision: Energy Efficiency in the Spanish Rental Market'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=13270