Evolutionary game strategy of stakeholders under the sustainable and innovative business model: A case study of green building

Abstract

The industry is facing severe environmental degradation challenges and complex regulatory systems. A sustainable and innovative business model of green building is regarded as an important strategy for the realization of ecological and economic value. However, from a system perspective, research on the interest boundaries of stakeholders and the decision-making process is still relatively limited. This study addresses the gap by developing a systematic game analysis framework that integrates government, developer and consumer as players. Results indicate that the convergence of the stable strategy system is closely related to the initial strategy selection of each stakeholder. The government's policy cost cannot promote the stability of the system. Compared with economic benefits, consumers' recognition of the ecological value of green buildings is an important factor. Stakeholders' attention to their benefits and costs dominates the market. The government's subsidy strategy depends on the profit and loss of the target, not that the higher the incentive, the more significant the effect can be obtained. This study enhances the body of knowledge by providing a novel framework for research in related disciplines. It also provides insights into the decision-making mechanism of stakeholders in the green building market.