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The purpose of this paper is to investigate the role of distinct types of heating technology and their price impact in German residential real estate markets, considering a wide range of other housing market determinants. The authors aim to test and to verify specifically, whether the obsolescence of heating technology leads to a significant price discount and whether higher technological standards (and environmental friendliness) come with a price premium on the market.

The authors create housing market models for rental and sales segments by constructing generalized additive models with explicit multi-layered spatial components. To elaborate a profound and contemporary answer using these models, the authors perform large-sample regression analyses based on more than 400,000 observations covering German residential properties in 2015.

First and foremost, the heating system indeed shows significant explanatory importance for measuring housing rents and purchasing price. Second, the authors find that it makes a difference whether clean “green” technologies are implemented or whether “brown” systems with obsolete technology or fossil energy sources is on hand. Ultimately, the authors conclude that while low energy consumption indeed comes with a price premium, this needs to be interpreted together with the property’s heating type, as housing markets seem to outweigh the “green premium” by “brown discounts” if low energy consumption figures are powered by a certain type of heating technology system.

Aside of a possible omitted variable bias, the main research limitation is constituted by the integration of asking prices in the analysis, as actual transaction prices are not systematically transparent on national level in Germany. Limitations are discussed at the end of the paper.

This work supports investors who face the challenge of making environmental- and energy-related decisions as well as appraisers who deliver financial fundamentals for such. Third, the paper supports both asset managers as well as investment strategists in argumentation pro-environmental investments beyond all ecological necessity.

This paper contributes to the current discussion on climate change and the eclectic role of real estate in this context. The authors deliver evidence on pricing effects as a measure of socioeconomic acceptance of progressive heating technology and environmental friendliness as an imperative of twenty-first century societies.

This is the first study on “green premiums” or “brown discounts” that includes heating technology as a potential and distinct driver of value and rents. It is a contemporary contribution and delivers original information on the quantitative impact of contemporary and anachronistic technology in heating to researchers as well as investors and appraisers.

The aim of this research is to understand the relationship between cultural buildings, economic powers and social justice and equality in architecture and how this relationship has evolved over the last hundred years. This research seeks to identify architectural and urban elements that enhance social justice and equality to inform architectural and urban designs and public policies.

The author explores the relationship between case studies of museums, cultural centers and libraries, and economic powers between 1920 and 2020 in Stockholm, Sweden. The author conducts a historical analysis and combines it with statistical and geographically referenced information in a Geographic Information System, archival data and in situ observations of selected buildings in the city. The author leverages the median income of household data from Statistics Sweden, with the geographical location of main public buildings and the headquarters of main companies operating in Sweden.

This analysis presents a gradual commercialization of cultural buildings in terms of location, inner layout and management, and the parallel filtering and transforming of the role of users. The author assesses how these cultural buildings gradually conformed to a system in the city and engaged with the market from a more local and national level to global networks. Findings show a cluster of large public buildings in the center of Stockholm, the largest global companies' headquarters and high-income median households. Results show that large shares of the low-income population now live far away from these buildings and the increasing commercialization of cultural space and inequalities.

This research provides a novel image of urban inequalities in Stockholm focusing on cultural buildings and their relationship with economic powers over the last hundred years. Cultural buildings could be a tool to support equality and stronger democracy beyond their primary use. Public cultural buildings offer a compromise between generating revenue for the private sector while catering to the needs and interests of large numbers of people. Therefore, policymakers should consider emphasizing the construction of more engaging public cultural buildings in more distributed locations.

In this paper, the main focus is on supply and demand auction systems with resource pooling in modern supply chain from a theoretical modeling perspective. The supply and demand auction systems in modern supply chains among manufacturers and suppliers serve as information sharing mechanisms. The purpose of this paper is to match the supply and demand such that a modern supply chain can achieve incentive compatibility and economic efficiency. The authors design such a supply and demand auction system that can integrate resources to efficiently match the supply and demand.

The authors propose three theoretic models of modern supply chain auctions with resource pooling according to the Vickrey auction principle. They are supply auction model with demand resource pooling, demand auction model with supply resource pooling, and double auction model with demand and supply resource pooling. For the proposed auction models, the authors present three corresponding algorithms to allocate resources in the auction process by linear programming, and study the incentive compatibility and define the Walrasian equilibriums for the proposed auction models. The authors show that the solutions of the proposed algorithms are Walrasian equilibriums.

By introducing the auction mechanism, the authors aim to realize the following three functions. First is price mining: auction is an open mechanism with multiple participants. Everyone has his own utility and purchasing ability. So, the final price reflects the market value of the auction. Second is dynamic modern supply chain construction: through auction, firm can find appropriate partner efficiently. Third is resources integration: in business practices, especially in modern supply chain auctions, auctioneers can integrate resources and ally buyers or sellers to gain more efficiency in auctions.

In the paper, the authors propose three theoretic models and corresponding algorithms of modern supply chain auctions with resource pooling according using the Vickrey auction principle, which achieves three functions: price mining, dynamic modern supply chain construction and resources integrating. Besides, these proposed models are much closer to practical settings and may have potential applications in modern supply chain management.

In many countries, individuals can receive welfare support whilst simultaneously being employed. The level of earned income that welfare recipients are allowed to keep has long been a subject of debate. Core issues include whether in-work benefit regulations provide incentives for individuals to expand labour market participation and are thus also socially effective and whether the population perceives welfare benefits for individuals who earn own income as fair. This article contributes to the debate about the social legitimacy of in-work benefit regulations by shedding light on the principles guiding judgements about an adequate amount of in-work benefit receipt.

The authors use a factorial survey experiment to investigate which factors guide judgements about an adequate level of in-work benefit receipt. In the authors' factorial survey, the household composition, health status, and monthly earnings of a hypothetical in-work benefit recipient were varied experimentally. The study investigates Germany's basic income support programme, a means-tested social policy programme that targets both unemployed and employed individuals.

The results show that respondents consider higher earnings retention rates for lower-income earners to be fair. This preference mirrors the German legislation, which is based on the principle of need. Furthermore, the presence of children and of physical as well as mental health impairments are associated with support for higher earnings retention rates.

The findings suggest that citizens support the core features of in-work benefit regulations but do not consider in-work benefit recipients as a homogenous group when assessing the adequate level of benefit receipt.