The Mechanisms of Governance
The Mechanisms of Governance

Author: Oliver E. Williamson

Publisher: Oxford University Press, USA

Published: 1996

Total Pages: 442

ISBN-13: 0195132602

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This text studies transaction cost economics, influential in economic thought on how institutions work. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes it in organizational terms, as a governance structure.