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Behavioural Economic Analysis of Institutional Changes: Lessons Learned from China's Land System Reforms

Behavioural Economic Analysis of Institutional Changes: Lessons Learned from China's Land System Reforms

Hardcover

Series: Routledge Studies in International Real Estate

Economics

ISBN10: 1032867361
ISBN13: 9781032867366
Publisher: Routledge
Published: Sep 15 2025
Pages: 240
Weight: 1.16
Height: 0.63 Width: 6.14 Depth: 9.21
Language: English

This book examines the evolution of China's rural land system through an integrated lens of institutional and behavioural economics. It traces seventy years of reform, from collective farming to market-oriented land transfers, to explain how central policy, local implementation and farmers' responses interact to shape institutional change. Moving beyond standard accounts focused on property rights and transaction costs, the book introduces a dynamic framework based on Prospect Theory, incorporating cognitive biases, social norms and bounded rationality. Drawing on two large-scale rural household surveys, the book combines empirical analysis with historical case studies to explore how reforms were received, adapted and resisted.

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