The Mechanisms of Governance

Business & Finance, Management & Leadership, Industrial Management, Economics, Theory of Economics
Cover of the book The Mechanisms of Governance by Oliver E. Williamson, Oxford University Press, USA
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Oliver E. Williamson ISBN: 9780199879564
Publisher: Oxford University Press, USA Publication: January 18, 1996
Imprint: Oxford University Press, USA Language: English
Author: Oliver E. Williamson
ISBN: 9780199879564
Publisher: Oxford University Press, USA
Publication: January 18, 1996
Imprint: Oxford University Press, USA
Language: English

This book brings together in one place the work of one of our most respected economic theorists on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics which studies the governance of contractual relations is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms as a production function transaction cost economics describes the firm in organizational terms as a governance structure. Alternative feasible forms of organization--firms markets hybrids bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. Written by one of the leading economic theorists of our time The Mechanisms of Governance is sure to be an important work for years to come. It will be of interest to scholars and students of economics organization management and law.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book brings together in one place the work of one of our most respected economic theorists on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics which studies the governance of contractual relations is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms as a production function transaction cost economics describes the firm in organizational terms as a governance structure. Alternative feasible forms of organization--firms markets hybrids bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. Written by one of the leading economic theorists of our time The Mechanisms of Governance is sure to be an important work for years to come. It will be of interest to scholars and students of economics organization management and law.

More books from Oxford University Press, USA

Cover of the book The Third Globalization: Can Wealthy Nations Stay Rich in the Twenty-First Century? by Oliver E. Williamson
Cover of the book Soul Searching : The Religious And Spiritual Lives Of American Teenagers by Oliver E. Williamson
Cover of the book Heirs of the Fisherman: Behind the Scenes of Papal Death and Succession by Oliver E. Williamson
Cover of the book Guns or Butter : The Presidency of Lyndon Johnson by Oliver E. Williamson
Cover of the book The Vietnam War:A Concise International History by Oliver E. Williamson
Cover of the book Wizardry:Baseball's All-Time Greatest Fielders Revealed by Oliver E. Williamson
Cover of the book Constantine the Emperor by Oliver E. Williamson
Cover of the book Lost Christianities:The Battles for Scripture and the Faiths We Never Knew by Oliver E. Williamson
Cover of the book How to Read the Bible: History, Prophecy, Literature--Why Modern Readers Need to Know the Difference and What It Means for Faith Today by Oliver E. Williamson
Cover of the book The Day Wall Street Exploded : A Story Of America In Its First Age Of Terror by Oliver E. Williamson
Cover of the book Supernatural Selection : How Religion Evolved by Oliver E. Williamson
Cover of the book Lincoln: A Very Short Introduction by Oliver E. Williamson
Cover of the book The Power of Place: Geography, Destiny, and Globalization's Rough Landscape by Oliver E. Williamson
Cover of the book The Caucasus:An Introduction by Oliver E. Williamson
Cover of the book Helping Children with Selective Mutism and Their Parents:A Guide for School-Based Professionals by Oliver E. Williamson
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy