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Costantino, N (2006) The contribution of Ranko Bon to the debate on sustainable construction. Construction Management and Economics, 24(07), 705-9.

Dietzenbacher, E and Hoen, A R (2006) Coefficient stability and predictability in input-output models: a comparative analysis for the Netherlands. Construction Management and Economics, 24(07), 671-80.

Dikmen, I and Birgonul, M T (2006) A review of international construction research: Ranko Bon's contribution. Construction Management and Economics, 24(07), 725-33.

Ganesan, S and Kelsey, J (2006) Technology transfer: international collaboration in Sri Lanka. Construction Management and Economics, 24(07), 743-53.

Hawk, D (2006) Conditions of Success: a platform for international construction development. Construction Management and Economics, 24(07), 735-42.

Mccann, P (2006) On the supply-side determinants of regional growth. Construction Management and Economics, 24(07), 681-93.

Pietroforte, R and Gregori, T (2006) Does volume follow share? The case of the Danish construction industry. Construction Management and Economics, 24(07), 711-5.

Ruddock, L and Lopes, J (2006) The construction sector and economic development: the "Bon curve". Construction Management and Economics, 24(07), 717-23.

Shipworth, D (2006) Qualitative modelling of sustainable energy scenarios: an extension of the Bon qualitative input-output model. Construction Management and Economics, 24(07), 695-703.

Skitmore, M, Runeson, G and Chang, X (2006) Construction price formation: full-cost pricing or neoclassical microeconomic theory?. Construction Management and Economics, 24(07), 773-83.

  • Type: Journal Article
  • Keywords: Construction; contracts; pricing; theory; policy; costs; prices; neo-classical microeconomics; marketing
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446190500434849
  • Abstract:

    Neo-classical microeconomic theory has been suggested to offer (1) an appropriate analytical tool for construction price determination while, at the same time, (2) full-cost pricing is most commonly accepted pricing policy of construction firms. Paradoxically, however, both are mutually exclusive theories. Only one, if any, can be correct. This paper examines both (1) and (2) by analysis of the evidence available in literature and concludes in favour of (1). It is only in disequilibrium, however, that the differences in behaviour can be clearly observed. In equilibrium, the difference between the two theories from a practical point of view is not very substantial. In addition, the endemic nature of uncertainty in the industry in general makes the task of estimating costs and prices difficult in practice. Therefore, although neoclassical microeconomic theory provides a useful means of analysis, it offers little for the practice of pricing, which is much more closely related to the marketing discipline than economics.

Steadman, P (2006) Allometry and built form: revisiting Ranko Bon's work with the Harvard Philomorphs. Construction Management and Economics, 24(07), 755-65.

Valence, G D (2006) Building as an economic process: the Austrian approach revisited. Construction Management and Economics, 24(07), 767-71.