A Transaction-cost Analysis of the Land Development Process

Author:

Buitelaar Edwin1

Affiliation:

1. Nijmegen School of Management, University of Nijmegen, Thomas van Aquinostraat 3, PO Box 9108, 6500 HK Nijmegen, The Netherlands,

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.

Publisher

SAGE Publications

Subject

Urban Studies,Environmental Science (miscellaneous)

Reference42 articles.

1. Alessi, L. De (1991) Development of the property right approach, in: E. G. Furubotn and R. Richter (Eds) The New Institutional Economics: A Collection of Articles from the Journal of Institutional and Theoretical Economics, pp. 45-53. Tübingen: Mohr.

2. A Transaction Cost Theory of Planning

3. A transaction-cost theory of land use planning and development control

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