The Mechanisms of Governance / Edition 1

Hardcover (Print)
Buy New
Buy New from BN.com
$127.48
Used and New from Other Sellers
Used and New from Other Sellers
from $25.00
Usually ships in 1-2 business days
(Save 82%)
Other sellers (Hardcover)
  • All (10) from $25.00   
  • New (5) from $44.40   
  • Used (5) from $25.00   

Overview

This book brings together in one place the work of one of our most respected economic theorists, on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization - firms, markets, hybrids, bureaus - are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do, and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis, The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization, but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing.
Read More Show Less

Editorial Reviews

From the Publisher
"[The book] is a work of scholarship written for posterity by one of the leading social scientists of our time. [It] should achieve the status of a classic text quickly...[The author] provides a conceptual framework simple enough to be used and yet exact and complex enough to accommodate continuing insights into the workings of organizations."—The Academy of Management
Read More Show Less

Product Details

  • ISBN-13: 9780195078244
  • Publisher: Oxford University Press, USA
  • Publication date: 2/28/1996
  • Edition number: 1
  • Pages: 448
  • Product dimensions: 6.40 (w) x 9.30 (h) x 1.60 (d)

Meet the Author

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.

Read More Show Less

Table of Contents

Prologue: The Mechanisms of Governance 3
1 Transaction Cost Economics and the Carnegie Connection 23
2 Chester Barnard and the Incipient Science of Organization 29
3 Transaction Cost Economics 54
4 Comparative Economic Organization: The Analysis of Discrete Structural Alternatives 93
5 Credible Commitments: Using Hostages to Support Exchange 120
6 Economic Institutions: Spontaneous and Intentional Governance 145
7 Corporate Finance and Corporate Governance 171
8 The Politics and Economics of Redistribution and Inefficiency 195
9 Transaction Cost Economics and Organization Theory 219
10 Calculativeness, Trust, and Economic Organization 250
11 Delimiting Antitrust 279
12 Strategizing, Economizing, and Economic Organization 307
13 The Institutions and Governance of Economic Development and Reform 322
14 Transaction Cost Economics and the Evolving Science of Organization 349
Glossary 377
References 381
Index 411
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)