英文摘要
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Public construction project has characteristics of complex engineering practice and huge budget amount of government budget, so it will affect the government budget allocation and even economic growth of the nation. Traditionally, the performance evaluation of public construction projects are judged mostly in terms of efficiency, effectiveness and quality as indicators; however, this approach neglects the costs of transaction failure that may result in other costs or have impact on overall economic growth. If the transaction cost theory is incorporated into the process of the public construction, it will make up the lack of attention on transaction failure of performance evaluation. From the qualitative and quantitative research data of No.2 National Highway project, this research found the bounded rationality of human factors, uncertainty of environmental factors, and special characteristics of the project will increase the total cost. In addition, even if the implementation of public construction proceeds normally, the total cost (TC) should equal the actual expense of construction of project involved (Ce) plus the normal transaction cost (Ct). However, if construction is set back by failures or delays, the method for analyzing the total cost should add the increased construction cost (Ce'), the increased transaction cost (Ct'), increased opportunity costs (Co), social costs (Cs), and utility costs (Cu) (that is, TC'=Ce + Ct + Ce' + Ct' + Co + Cs + Cu).
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