A transaction-cost analysis of the land development process

Edwin Buitelaar*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review


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.

Original languageEnglish
Pages (from-to)2539-2553
Number of pages15
JournalUrban Studies
Issue number13
Publication statusPublished - Dec 2004
Externally publishedYes


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