Oliver Williamson
A Nobel laureate known for his work on transaction cost economics and the theory of the firm.
Quotes by Oliver Williamson
The boundaries of the firm are determined by transaction costs.
The study of economic organization is a study of comparative institutional analysis.
The purpose of economic organization is to economize on transaction costs.
The problem of economic organization is to devise institutions that promote cooperation and mitigate opportunism.
The study of economic organization is a study of governance structures.
The choice of governance structure is a matter of balancing transaction costs and production costs.
The study of economic organization is a study of the institutional framework within which transactions occur.
The purpose of economic organization is to facilitate exchange.
The study of economic organization is a study of the rules of the game.
The choice of governance structure is a matter of minimizing the sum of production and transaction costs.
The study of economic organization is a study of the design of institutions.
The purpose of economic organization is to create value.
The study of economic organization is a study of the institutional arrangements that govern economic activity.
The choice of governance structure is a matter of adapting to the specific characteristics of transactions.
The study of economic organization is a study of the institutional framework of capitalism.
The purpose of economic organization is to achieve efficiency.
The study of economic organization is a study of the institutional foundations of markets.
The choice of governance structure is a matter of mitigating hazards.
The study of economic organization is a study of the institutional arrangements that support exchange.
The purpose of economic organization is to reduce uncertainty.