Net social loss of the land transition institution in China
构建了理想土地转换市场模型，分析地方政府和开发商行为导致的净社会损失，揭示现行制度低效，呼吁改革。
This article sets up a model of net social loss resulting from Chinese land transition institution. At first, the ideal land transition market model is set up, characterized by complete competition and au pair bargaining. Then, according to the behavior of local government officials and developers, the actual price and amount of transitional land are analyzed. A model of net social loss is created to reveal the ineffectiveness of the current institution. This paper concludes that modification of current land transition institution is urgently required.