The Economics of the Modern Construction Firm

Abstract

Social structures applied to the provision of the built environment Introduction Previous institutional approaches to the construction/ development process Social systems of organisation of the development or construction process (social systems of provision of built environment) Two social systems of new housing provision: speculative and contracting The 'speculative' social structure of housing provision (SSHP) Lexicographic decision-making by owner-occupier purchasers and product market segmentation Economic speculators, land markets, land acquisition decisions and long-term expectations under uncertainty Housing markets, housing acquisition/disposal decisions and long-term expectations under uncertainty Intermediaries, speculators and information asymmetry in housing production markets Divergent expectations between classes of actor in SSHPs Role of firms as institutions in SSHPs How many SSHPs are there/have there been?Methodology of a systems approach An application of 'systems of provision' approach to metropolitan SSHPs: the case of London and South East England The neo-conservative or current period Power, authority and the firm in social systems of organisation of the construction process (SSOBPs) Market serving institutions in social systems of organisation of the construction process An agenda for future research into social systems of housing provision Concluding remarks 3 Size distributions and polarisation of construction firms and markets

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