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| House Transaction Cost and the Choice of Its Transaction Pattern |
| 华中师范大学经济学院，湖北武汉430079 |
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Abstract On the hypothesis of "human bounded rationality" and "tendency to opportunistic behavior" and the theory of transaction cost in institutional economics, this paper makes research on the transaction cost of selling commercial houses, economical houses and publicly owned houses and the transaction cost under different transaction patterns, which points out that not only the transactional cost of selling commercial houses is high, but also that of publicly owned houses; the shared transactional cost of selling commercial houses amounts to about 900 yuan per square meter and that of economical houses is about 1/3 1/2 of the shared transactional cost of selling commercial houses; participants of transaction choose the patterns which may bring them the greatest profit on condition that their own transactional cost is regarded as constraint.
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Received: 25 April 2001
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