Institutions in Theories of Land Markets: Illustrated by the Dutch Market for Agricultural Land

Barrie Needham; Arno Segeren; Edwin Buitelaar

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Institutions in Theories of Land Markets: Illustrated by the Dutch Market for Agricultural Land

机译：土地市场理论中的制度：以荷兰农业土地市场为例

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Theories of land markets should be intellectually sound and should be able to explain and predict market outcomes, such as price and volume of transactions, changes in these and locations of different land uses. Theories based on neo-classical economics, which largely ignore the role of institutions, are not intellectually sound because it is known that markets cannot work without institutions. Nor do these theories predict outcomes satisfactorily. Moreover, they assume market mechanisms and do not investigate them critically. This paper explores how institutions may be taken into account in theories of land markets and whether that leads to better theories both of market outcomes and of market processes. New institutional economics provides the tools to investigate how the interactions between market actors are influenced by institutions. And the 'old' institutional economics emphasises how institutions influence the motivations and preferences of those actors. The conclusion is that there cannot be a general theory of land markets, only theories with a limited applicability and scope. Such theories can be used to explain the effects of small changes and to predict the effects of marginal changes in institutions. In that latter use, these theories can be used for designing land policy. How institutions can be incorporated into theory is illustrated by analysing the Dutch market for agricultural land. This shows how institutions affect the outcomes in that market and the consequences for the transformation of land from agriculture to urban use.

机译：土地市场理论应具有理性的见解，并应能够解释和预测市场结果，例如交易的价格和数量，交易的变化以及不同土地用途的位置。基于新古典经济学的理论在很大程度上忽略了制度的作用，在理论上并不健全，因为众所周知，没有制度，市场就无法运作。这些理论也不能令人满意地预测结果。而且，它们采用市场机制，并且不进行严格的调查。本文探讨了如何在土地市场理论中考虑制度，以及这是否导致了市场结果和市场过程的更好理论。新制度经济学为调查市场参与者之间的互动如何受到制度影响提供了工具。而“旧的”制度经济学则强调制度如何影响那些行为者的动机和偏好。结论是，没有土地市场的一般理论，只有适用性和范围有限的理论。这样的理论可以用来解释小变化的影响，并预测制度中边际变化的影响。在后一种用途中，这些理论可用于设计土地政策。通过分析荷兰的农业用地市场，说明了如何将制度纳入理论。这表明机构如何影响该市场的结果以及土地从农业向城市使用的转变的后果。

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《Urban Studies》 |2011年第1期|p.161-176|共16页
作者
Barrie Needham; Arno Segeren; Edwin Buitelaar;
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School of Management, Radboud University, Nijmegen, P O Box 9108, Nijmegen 6500 HK, The Netherlands;

Netherlands Institute for Spatial Research and is now at the Municipality of the Hague;

Netherlands Environmental Assessment Agency, Oranjebuitensingel 6, The Hague, 2511VE, The Netherlands;

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Institutions in Theories of Land Markets: Illustrated by the Dutch Market for Agricultural Land

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