關於制度效率性的評析，其實施時「交易成本」大小的比較，一直是學術界關心的重心之一。然而，「交易成本分析法」在操作上並不是那麼容易。本文以「土地使用變更制度的經濟效率性比較」為例，說明了：比較交易成本的分析方式，必須兼顧到市場參與者「全體」與「個人」兩種角度。以「全體」的角度而言，「交易成本分析法」需先從Marshall效率的觀點切入，比較制度對全體「總剩餘」的影響；至於從「個人」的角度，則不能忽略了「交易」的前提乃是「自願交換」，否則在應用上容易導致邏輯上的誤判。另外，在考慮「行為人」乃是經濟行為的主體，而「成本」是各個行為人的「主觀」概念後，由於主觀成本判斷的困難，我們不能單純且表面地以執行制度本身所需的「交易手續成本」大小，來衡量制度所造成狀態的效率性。因此本文認為，交易成本的比較在觀念上雖然明晰，但在實務的運用上，卻也存在著操作上的困難。

In the evaluation of institutional efficiencies, one of the focuses of the literature has always been on comparing transaction costs. However, the transaction cost approach has not been easy to implement. By using examples based on a comparison of the efficiencies of two land use conversion systems, this paper argues that transaction costs should take market participants into consideration both collectively and individually. From the perspective of all individuals together, the
transaction cost approach must first be based on the Marshall Efficiency criterion, so that we can judge institutional efficiency by calculating the change in the overall surplus. From the perspective of each individual, we cannot ignore the premise of catallactics, by which exchanges are processes based on voluntary agreement among persons. If we do, we might draw a wrong conclusion because of a logical error. In addition, in considering that individuals are subjects of economic behavior and that transaction costs are subjective and in turn difficult to measure, efficiency should not be compared simply by measuring the transaction fees involved in an institution. In other words, even
though the idea of a transaction cost approach seems to be clear and promising, it is not operational in judging the efficiency of an institution.