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Urban renewal has become one of the most important issues of urban development and economic progress. The right-exchange mechanism fills the critical role of providing partial solutions to urban renewal in Taiwan. This mechanism is expected to coordinate the conflicts and allocate the benefits between land owners. To reduce the information asymmetry between land owners and contractors could eliminate the agent problem between these stakeholders.
By case study, we found that the evaluation of the right value before right-exchange is the key success factor. In addition, the allocation of benefit of right-exchange depends on this value. This study shows that the valuation before right-exchange can balance the benefits among the stakeholders, if the evaluation procedure is fair and conducted by professions.
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