Please use this identifier to cite or link to this item: http://hdl.handle.net/20.500.11861/6552
Title: Econometric modelling of risk adverse behaviours of entrepreneurs in the provision of house fittings in China
Authors: Prof. LI Yi Man, Rita 
Issue Date: 2012
Source: Construction Economics and Building, 2012, vol. 12(1), pp. 72-82.
Journal: Construction Economics and Building 
Abstract: Entrepreneurs have always born the risk of running their business. They reap a profit in return for their risk taking and work. Housing developers are no different. In many countries, such as Australia, the United Kingdom and the United States, they interpret the tastes of the buyers and provide the dwellings they develop with basic fittings such as floor and wall coverings, bathroom fittings and kitchen cupboards. In mainland China, however, in most of the developments, units or houses are sold without floor or wall coverings, kitchen or bathroom fittings. What is the motive behind this choice? This paper analyses the factors affecting housing developers’ decisions to provide fittings based on 1701 housing developments in Hangzhou, Chongqing and Hangzhou using a Probit model. The results show that developers build a higher proportion of bare units in mainland China when: 1) there is shortage of housing; 2) land costs are high so that the comparative costs of providing fittings become relatively low.
Type: Peer Reviewed Journal Article
URI: http://hdl.handle.net/20.500.11861/6552
ISSN: 1837-9133
DOI: 10.5130/AJCEB.v12i1.2432
Appears in Collections:Economics and Finance - Publication

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