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Comment: Frueheres Bibliotheksbuch. Versand aus Großbritannien, Versandzeit 2- 8 Tage. Die auf dem Foto abgebildet Abdeckungen können nicht identisch sein mit der des eigentlichen Buches. This is an ex-library book and may have the usual library/used-book markings inside.This book has soft covers. Clean from markings. In good all round condition.
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Oliver E. Williamson
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ECONOMIC INSTITUTIONS OF CAPITALISM Paperback – 26 Oct. 1987

English edition by Oliver E. Williamson (Autor)
4.6 4.6 out of 5 stars 19 ratings
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This long-awaited sequel to the modem classic Markets and Hierarchies develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labor as well as the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labor policy, and SEC and public utility regulations.
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  1. Print length
    450 pages
  2. Language
    English
  3. Publisher
    Free Press
  4. Publication date
    26 Oct. 1987
  5. Dimensions
    16 x 2.59 x 23.77 cm
  6. ISBN-10
    9780029348215
  7. ISBN-13
    978-0029348215
  8. See all details
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Product description

About the Author

Oliver E. Williamson, the author of several books including the acclaimed Markets and Hierarchies (published by the Free Press), is Gordon B. Tweedy Professor of Economics of Law and Organization at Yale University. He is Fellow of the Econometrics Society and the American Academy of Arts and Sciences and Co-editor of the Journal of Law, Economics, and Organization.

Product details

  • ASIN ‏ : ‎ 0029348218
  • Publisher ‏ : ‎ Free Press; reprint edition (26 Oct. 1987)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 450 pages
  • ISBN-10 ‏ : ‎ 9780029348215
  • ISBN-13 ‏ : ‎ 978-0029348215
  • Dimensions ‏ : ‎ 16 x 2.59 x 23.77 cm
  • Customer reviews:
    4.6 4.6 out of 5 stars 19 ratings

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Oliver E. Williamson

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4.6 out of 5 stars
19 global ratings

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Top reviews from Germany

  • jdoherty@post.smu.edu
    4.0 out of 5 stars Great for expanded understanding of vertical integration
    Reviewed in Germany on 14 December 1997
    I came across this book as part of my MBA studies at the Cox School of Business. A professor recommended it for expanded understanding of vertical integration theories. In fact, my professor is cited in the book! I found it to be very valuable and plan to keep it as a reference for years to come!
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  • Marcia Rossi
    2.0 out of 5 stars Material de baixa qualidade
    Reviewed in Brazil on 17 April 2023
    Verified Purchase
    É inquestionável o valor que esta obra representa para a literatura da economia. No entanto, é possível notar que houve uma tentativa frustrada de reduzir os custos de produção, resultando em uma qualidade de impressão inferior: papel (tanto da capa quanto das páginas) de baixa qualidade e fonte muito pequena.
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  • Pushpendra
    5.0 out of 5 stars Value of Money
    Reviewed in India on 28 December 2024
    Verified Purchase
    Best copy
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  • E. Husman
    5.0 out of 5 stars Why hadn't I heard more about this sooner?
    Reviewed in the United States on 16 July 2006
    Verified Purchase
    I was searching for something about comparative organizational forms - such as how is Toyota organized differently than GM and how does this benefit them? - when I found this. After searching around, I discovered that Oliver Williamson is both one of the most prolific writers and one of the most cited. Coase's 1937 essay, "The Nature of the Firm", challenged economists to open up the black box that neoclassical economics refers to as "the firm". Williamson responded by creating a whole new tool box for analyzing a wide variety of relationships called the New Institutional Economics (NIE). This book summarizes the state of NIE as of 1985.

    The basic outline of NIE is easy to grasp, but shifts the focus of economics from choice to contract. Contractual man, furthermore, is not the perfect maximizer assumed in neoclassical economics. It might help if the reader knows a little about antitrust theory as it applied in the middle of the 20th century to vertical integration since much of this book is dedicated to showing why that theory overlooked the efficiency benefits. Williamson then applies it to the organization of labor (hierarchy vs. team production), unionization, corporate governance, and finally public utility franchise bidding.

    While I respect Professor Bainbridge's experience teaching material this difficult, I personally didn't find the writing so bad as to deduct a star. Yes, it is jargon-filled, but this is a specialist's field. Once you learn the vocabulary, it seems to move along at a good pace without suffering from some of the archaic terminology found in law texts. It contains some rather simple math (which the reader can skim without losing anything of the argument). I especially liked how Williamson diagrams the decision-making process.

    If you want to know more about why the business world is the way it is, this book will at least provide a new way of thinking if not the actual answers. It proposes and then offers answers to a variety of puzzles, but more importantly it shows how subtle changes in the analysis framework can yield better answers, which I think makes it worthwhile reading.
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  • 学者の卵
    5.0 out of 5 stars 2009年度ノーベル経済学賞受賞者の代表的著作
    Reviewed in Japan on 1 November 2009
    Verified Purchase
    タイトルにも書いたとおり2009年度ノーベル経済学賞を経済における「統治」の議論で受賞した、ウィリアムソン教授の代表的著作である。

    著者は市場メカニズムが機能していないことを指摘し、その代替物として組織（単に企業ではない）に注目しており、なぜ企業が存在するのかというコース（企業・市場・法）以来の議論に対してある程度の解を与えた存在として現実経済を説明する上で重要な存在である。

    本著の特徴として「市場メカニズムが十分に機能しない」ことを前提として議論をしていることがあげられる。
    市場経済が働かない要因はなぜかを基に、市場メカニズムを機能させるために「制度」が出現するとし、どのような考えに基づき制度を形成するのかを議論している。
    数学的な分析などに欠け、直感的分析に終始しており、議論の余地が多いのも確かである。
    しかし市場メカニズムが機能しないのはなぜかという点に注目し、そこから制度の出現について言及した著作として社会科学内で屈指の引用数を誇る著作である。

    以下私なりに本著を読むことを薦められる方々を列挙してみたので参考までに。
    ・市場メカニズムが現実問題として機能しない理由を知りたい方
    ・経済学で現実問題を説明したい方
    ・企業とは何かを経済という視点から知りたい方
    ・サイモン教授がなぜノーベル経済学賞を受賞したのかに疑問がある方（本著は限定合理性が大きな役割を果たしている）

    簡単ではあるが上記に当てはまる方は読んでみる価値があると思う。
    本著は著者の数々の論文に基づいており、1985年までの論文を幾らか読んでおくと内容を理解しやすい。
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  • Otavio Nese
    5.0 out of 5 stars excellent book
    Reviewed in the United States on 6 March 2013
    Verified Purchase
    that's a reference. Definitely recommend. For those who study the use of contracts in all relations of the capitalism. The lecture is not so easy.
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