The Institutional Analysis of Fittings in Residential Units

Rita Yi Man Li ()
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Rita Yi Man Li: Hong Kong Shue Yan University

Chapter Chapter 3 in Law, Economics and Finance of the Real Estate Market, 2014, pp 45-61 from Springer

Abstract: Abstract New institutional economists state that the different arrangements in informal and formal institutions affect the transaction costs and the institutional arrangements. Nanjing, Hong Kong and Boston represent three different cities immersed in 3 different cultures. The Chinese in Nanjing are immersed in Eastern culture. Hong Kong, a British colony for 150 years with Chinese as the majority group, is a unique city with a mixture of Western and Eastern culture. Boston is a city with a western culture. Apart from these cultural differences, these cities also have different economic, historical and legal backgrounds. How do formal (legal) and informal institutions (e.g., culture) affect the provisions of fittings by developers? No research has been conducted on this topic. Motivated by curiosity, this chapter aims to fill this gap in the research.

Keywords: Institutional economics; Housing; Fittings (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-642-54245-9_3

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DOI: 10.1007/978-3-642-54245-9_3

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