Oliver E. Williamson

Transaction-Cost Economics: The Governance of Contractual Relations

Credible Commitments: Using Hostages to Support Exchange

Abstract Credible commitments and credible threats share the following common attribute: both appear mainly in conjunction with irreversible, specialized investments. But wherea...

Hierarchical Control and Optimum Firm Size

There is a great deal of evidence that almost all organizational structures tend to produce false images in the decision-maker, and that the larger and more authoritarian the or...

Understanding the employment relation: the analysis of idiosyncratic exchange

This paper is concerned with jobs for which nontrivial job-specific skills and task-specific knowledge evolve, in a learning by doing fashion, during the course of a worker's em...

The Vertical Integration of Production Market Failure Considerations

Abstract Policy interest in vertical integration has been concerned mainly with the possibility that integration can be used strategically to achieve anti competitive effects. I...

Understanding the Employment Relation: The Analysis of Idiosyncratic Exchange

Markets and Hierarchies: Analysis and Antitrust Implications.

Journal Article Markets and Hierarchies: Analysis and Antitrust Implications Get access Markets and Hierarchies: Analysis and Antitrust Implications. By O. E. WILLIAMSON. (Londo...