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The Mechanisms of Governance

The Mechanisms of Governance

by OliverE.Williamson (Author)

  • New

    Hardcover 1996

    $267.83

  • New

    Paperback 1999

    $38.65
Synopsis

New Institutional Economics is a new way to look at how organizations function. Rather than seeing the firm as a black box , Williamson shows how decision makers respond to economic factors WITHIN the firm - what he calls transaction cost economics (TCE). In this series of studies, Williamson shows how complexity expands in organizations because of bounded rationality and opportunism; that is the bad news of his message. The good news is that individuals within organizations become perceptive of resulting hazards they may and do encounter, and are adept at fashioning their organizations to cope creatively with difficult situations. This creativity accounts for diversity among organizations, in which governance structures are adapted to firm - or industry-specific hazards.

$267.83

Quantity

20+ in stock

More Information

Format: Hardcover
 Pages: 444
 Edition: 1st Edition
 Publisher: Oxford University Press
Published: 20 Jun 1996
ISBN 10: 0195078241
ISBN 13: 9780195078244

Media Reviews
These papers have been slightly modified and linking passages have been added to them to impose a sort of unity on them. The book is therefore an extremely convenient collection on the overall theory and some of the applications of transaction cost economics as understood by the leading exponent of those economics ... it is on the understanding of the existence of the firm and its behaviour that he has made his greatest mark ... I believe that what is read will speak for itself and for good law and economics more eloquently than I can manage here. * Journal of Law and Society *
Author Bio

Oliver E. Williamson is the Edgar F. Kaiser Professor of Business, Professor of Economics, and Professor of Law at the University of California at Berkeley. He is the author of numerous works in which law, economics, and organization are joined.