The transaction costs theory has been widely used in all business activities related to “transaction costs” since it was proposed by Ronald Coase in 1937. Before firms choose to enter the market, “transaction costs” will inevitably occur, which affects benefits. The rental housing market is a commercial market, and any external intervention will affect the resource allocation of this industry. This study explores the effects of the subsidies of the “rental housing subsidy policy” in Taiwan on the objectives of the rental housing policy by the transaction costs theory. This empirical study proves that policy objectives cannot be achieved by fixed and equal subsidy models, and expects to provide a basic theoretical framework that can serve as a reference when measuring the application of transaction costs to the policy subsidy model.
LinYH. On “Housing Law and Social Housing”. Urban Renewal Newsletter. 2012; (53): 8.
2.
Social and Family Affairs Administration. Understand “Housing Act” and implement housing justice. Community Development Journal Quarterly. 2017; (158): 1-5.
3.
Executive Yuan. Guiding Principles for R.O.C. Centenary Social Welfare Policy. Executive Yuan. 2012.
4.
TsungYJ. A Case Study of Land Acquisition Methods for Affordable Housing in Taipei City. 2015.
5.
Ministry of the Interior. The Regulations for Renting Social Housing of the Ministry of Interior. 2021.
6.
Ministry of the Interior Real Estate Information Platform. Social housing promotion progress. 2021. Accessed 07.31. 2021.
7.
YenBC. Rental Housing Market Development and Regulation Act. Taiwan Bar Journal. 2019. 20-29.
8.
HuangSA. Ronald Coase and New Institutional Economics. 2013.
9.
CoaseRH. The nature of the firm. Economica. 1937; 4(16): 386-405.
10.
ChiuCC. Formulating the Peaceful Integration Patterns across the Taiwan StraitDissertation for Graduate Institute of Political Science, National Taiwan Normal School. 2007.
11.
HsuHC. Transaction cost economics: Past, present and future applications. Journal of China Institute of Technology. 2003; 28: 79-98.
12.
CoaseRH. The problem of social cost. Journal of Law and Economics. 1960; 3(1): 1-44.
13.
HuangHSChangBF. Transaction cost economics: Past, present and future applications. HyRead ebook for Department of Computer Science and Information Engineering of Far East University. 2003; (4).
14.
DahlmanCJ. The Problem of Externality. Journal of Law & Economics. 1979 Apr 01; 22(1): 141-162.
15.
WilliamsonOE. Markets and hierarchies: analysis and antitrust implications: a study in the economics of internal organization. New York: Free Press. 1975.
16.
LinHPengCWTsengMH. A comparative analysis of condominium management ordinance and property management ordinance from a transaction costs perspective. Journal of Taiwan Land Research. 2006; 9(2): 1-26.
17.
WuSM. A Study on Industrial Land Use Conversion of Urban Plan by Transaction CostsThesis for in-service master’s program. 2014.
18.
WuHL. Coase. Taiwan: Wu Nan Books. 2017.
19.
PigouAC. The Economics of Welfare. 4th ed. London: MACMILLAN AND CO., LIMITE. 1932.
20.
UengZFLiangYT. An analysis of governmental environmental incentive regulation with delay. Taiwan Journal of Applied Economics. 2012 Jun 01; (91): 197-221.
21.
SungHC. Read 30 economics classics in one sitting. Taiwan: Seadove Publishing Company Ltd.; 2018.
22.
HuHF. The operational problems of the transaction cost approach: Lessons from institutional efficiency in land use conversion. Journal of Architecture. 2010; 11(2): 89-110.
23.
HsiungBY. Is there a generalized coase theorem? Socioeconomic Law and Institution Review. 2004(34): 103-123.
24.
Gregory MankiwN. Principles of Economics. 7th ed.: Cengage Learning; 2014.
25.
University of Minnesota editor. Principles of Economics.: University of Minnesota Libraries Publishing; 2016.
26.
LinCH. Use Rational Choice Theory to Explore Cultivate Land 375 Leasing Deeds of Choice Behavior on the Lessor and the LesseeDepartment of Real Estate Management, National Pingtung University; 2020.
27.
ChangWC. Causes and Effects of Theory of Share Tenancy. 2000.
28.
ChangWC. The Theory of Share Tenancy: With Special Application to Asian Agriculture and the First Phase of Taiwan Land Reform. HongKong: The Commercial Press; 2000.
29.
CheungSN. The theory of share tenancy.: Chicago/London: Univ. Chicago Press; 1969.
30.
The Department of Budget, Accounting and Statistics. Statistical Weekly Report on Municipal Administration No. 1052. 2019.
31.
The Department of Budget, Accounting and Statistics. Statistical Weekly Report on Municipal Administration No. 1103. 2020.
32.
ChouYL. A Study on the Incentive Mechanism of Farmland Management in Taiwan; 2007.
33.
Executive Yuan. Social Housing Charter and Management Phase 2 Plan. 2019.
34.
MalenbaumH. The Theory of Share Tenancy. By Steven N. S. Cheung. Chicago: University of Chicago Press. The Journal of Economic History. 1970; 30(4): 875-879.
35.
Executive Yuan. 2017 Social Housing Charter and Management Pilot Plan. Executive Yuan 2017.
36.
PengYKLiaoTH. Who Will Live in Social Housing? Break the Myth of Voluntary Repayment and Pursue Affordable Rents. 2020.
37.
CowenT. Public Goods and Market Failures: A Critical Examination. 1st ed.: Routledge; 1991.
38.
CowenT. Public Goods and Externalities. 2007. Available at: https://www.econlib.org/library/Enc1/PublicGoodsandExternalities.html.
39.
ChiehTH. Economic interpretation: Economics of the law. China Law Review. 2016; (3): 191-202.
40.
Executive Yuan. The National Housing and Urban Regeneration Center carries out Social Housing Charter and Management Plan Phase 2 Plan. Executive Yuan 2019.
