Study on Changes in Engineering Construction Standard Based on New Institutional Economics

Abstract

The nature of standard is the choice and arrangement of institution. The existing engineering construction standard system has many drawbacks, but with the development of society, engineering construction standard system moves towards maturity and integrity. In this dynamic process, the phenomenon of standards changes, such as formulation, replacement and revision, are inevitably. From this aspect, these changes can be explained by new institutional economics. By the introduction of Transaction Cost Theory and Institutional Change Theory of new institutional economics, this paper elaborates the nature and motive reasons of the changes of engineering construction standard and provides an equilibrium analysis model for these changes. At last, gets the conclusion that the directions of these changes can be regulated by controlling the total cost of changes, which can give a basis for the judgment of change direction of engineering construction standard.