A Transaction-cost Analysis of the Land Development Process

Edwin Buitelaar

154 citations0/0 files storedUrban Studies

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Urban Planning and Valuation Economic Theory and Institutions Real estate and construction management

Abstract

The production of our built environment involves many transaction costs. We want to avoid unnecessary transaction costs. Nevertheless, we hardly take account of transaction costs when considering different ways of organising the development process. The most important reason is probably the difficulty in identifying them. This paper shows why transaction costs are important and offers a method for identifying them. With this method, it is possible to compare the efficiency of different institutional arrangements.

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1990Institutions, Institutional Change and Economic Performance 1937The Nature of the Firm 1991Institutions, Institutional Change and Economic Performance 1960The Problem of Social Cost 1975Markets and Hierarchies 1985The economic institutions of capitalism firms, markets, relational contracting 2021Logistics and Supply Chain Management 1994Logistics and Supply Chain Management: Strategies for Reducing Costs and Improving Services.

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2021Spatial determinants of land redevelopment in the urban renewal processes in Shenzhen, China

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