Oliver E. Williamson
(1932 - 0)
Area of specialisation
Economic governance
Price Motivation
Analysis of Economic Governance, especially the Commons .
Affiliation at the time of Award
University of California Berkeley, CA, USA
1 Provided a theory of why some economic transactions take place within firms and other similar transactions take place between firms, that is, in the marketplace. The theory informs us about how to handle one of the most basic choices in human organization. When should decision power be controlled inside an organization, and when should decisions be left to the market.
1 Markets and Hierarchies: Analysis and Antitrust Implications (1975) 2 The Economic Institutions of Capitalism(1985) 3 The Nature of the Firm: Origins, Evolution, and Development (1991) 4 The Mechanisms of Governance (1996) 5 Industrial Organization (1996).