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

  • Johan Graafland
  • Andre Nijhof

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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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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