The Systematic Analysis of the Principal-Agent Behaviors in the Real Estate Market

摘要

Currently the bid tender and invitation system has gradually become the major means of dealing in the Chinese real estate market. However, because this system has only promoted in China for relatively quite a short time with insufficient theories and experiences, various adverse effects have baeen triggered in the bid tender and invitation field; this hinders the normal operation of the system. How to improve the bid tender and invitation system, standardize its operation and play out its role in optimizing the allocation of resources has become an urgent task nowadays. In the angle principal-agent, this paper is to analyze the issue of the existence of the principal-agent relation in the infrastructure investment in the Chinese national economy, and put forward the must to renew the construction owners' regulation-initiative mechanism, based on the principal-agent theory, so as to further improve the management of the real estate market.