The research of transaction costs between real estate developers and their partners

Abstract

With the continued refinement of the social division of labor, China's real estate industry is ranging from the "big and complete" to professional development, therefore the real estate developers establish business with a growing number of partners. What are the transaction costs between them, and what factors affect their transaction costs, this is the problem that is worthy of exploring. This paper uses transaction cost theory in the new institutional economics to study the influencing factors and mechanisms of the transaction costs between real estate developers and its partners, and tries to use system dynamics to analysis these factors. © Springer-Verlag Berlin Heidelberg 2013.