促進民間參與公共建設為何成為台北市政府的選擇？－－交易成本理論的初探性應用   全文下載

Why Has the Policy of Promoting Private Participation in Infrastructure Projects Become the Choice of Taipei City Government? - Pioneering Application of Transaction Cost Theory

According to available data, the policy of promoting private participation in infrastructure project in Taipei city has caused serious principle/agent problems. However, the cases of promoting private participation are still increasing. We find that public servants know the principle/agent cost, but after comparing total transaction costs, they still choose to promote private participation in building the city’s infrastructure to provide public service.
In the article, we’ll show how commitment cost, agent cost, decision cost and uncertainty cost -- the so-called transaction cost -- can be combined to demonstrate government’s inefficiency by design.