Transparency, market operation and trust in the Dutch construction industry: an exploratory study

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Graafland, Johan and Nijhof, André (2007) Transparency, market operation and trust in the Dutch construction industry: an exploratory study. Construction Management and Economics, 25 (2). pp. 195-205. ISSN 0144-6193

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Abstract:After the discovery of illegal price agreements in the Dutch construction industry, the government and major players in the sector have initiated a transition process towards more professional commercial relations. In the transition process transparency plays an important part, as it is a precondition for better market operation in the construction sector. However, there are significant disadvantages to a pursuit of transparency, such as higher costs and the risk of information overload. It is therefore necessary to find a good balance between more transparency and other ways to restore trust between key players in the construction sector. Especially complex products with a high degree of risk can best be dealt with through implicit contracts, in which trust is based on a mixture of the reputation mechanism, contracts that create a congruity of interests and the integrity of the contract partners.
Item Type:Article
Copyright:© 2007 Taylor & Francis
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Link to this item:http://purl.utwente.nl/publications/58576
Official URL:http://dx.doi.org/10.1080/01446190600830631
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