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

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Author Info

  • Johan Graafland
  • Andre Nijhof

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.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/01446190600830631
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Construction Management and Economics.

Volume (Year): 25 (2007)
Issue (Month): 2 ()
Pages: 195-205

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Handle: RePEc:taf:conmgt:v:25:y:2007:i:2:p:195-205

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Web page: http://www.tandfonline.com/RCME20

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Web: http://www.tandfonline.com/pricing/journal/RCME20

Related research

Keywords: Transparency; market operation; trust; integrity; implicit contracts;

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Cited by:
  1. Nijhof, A. & Graafland, J.J. & Kuijer de, O., 2009. "Exploration of an agenda for transparency in the construction industry," MPRA Paper 20274, University Library of Munich, Germany.

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