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Hierarchies, Markets and Power in the Economy: An Economic Perspective

Oliver E. Williamson

in Understanding Industrial and Corporate Change

Published in print:
2004
Published Online:
September 2007
ISBN:
9780199269426
eISBN:
9780191710179
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199269426.003.0004
Subject:
Business and Management, Organization Studies

This chapter adopts the transaction cost economics perspectives for purposes of examining hierarchies, markets, and power in the economy. Transaction cost economics works out of an economizing ... More


Is Cooperation Costly with Diverse Economic Agents?

Bhim Adhikari

in Promise, Trust and Evolution: Managing the Commons of South Asia

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199213832
eISBN:
9780191707438
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199213832.003.0011
Subject:
Economics and Finance, South and East Asia

Under the Nepal forestry programme, open-access forests have been transferred to forest user groups under a community-based property rights regime. This chapter examines the relationship between ... More


Water Institutional Reforms in Developing Countries: Insights, Evidences, and Case Studies

López Ramón and Michael A. Toman

in Economic Development and Environmental Sustainability: New Policy Options

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199298006
eISBN:
9780191603877
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199298009.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

While institutional reforms are critical for developing countries to enhance and sustain the economic and environmental contributions of their water sector, undertaking them is not an easy task in ... More


Institutional Evolution and the Political Economy of Governance

Alexander Ebner

in The Institutions of the Market: Organizations, Social Systems, and Governance

Published in print:
2008
Published Online:
September 2008
ISBN:
9780199231423
eISBN:
9780191710865
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199231423.003.0013
Subject:
Business and Management, Political Economy

This chapter examines the co-evolutionary relationship between markets and states as a path-dependent process that reflects the social construction of institutional change. It reviews the major ... More


Political Economy: An Overview

James E. Alt and Alberto Alesina

in A New Handbook of Political Science

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294719
eISBN:
9780191599361
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294719.003.0028
Subject:
Political Science, Reference

Provides an overview of the political economy approach as it relates to the political economy of institutions and the political economy of public policy. The field has developed and the literature ... More


Strategy, Resources, and Transaction Costs

Nicolai J. Foss

in Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources

Published in print:
2005
Published Online:
April 2005
ISBN:
9780199240647
eISBN:
9780191602177
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199240647.003.0005
Subject:
Economics and Finance, Economic Systems

Transaction cost economics (TCE) has been criticized by management scholars and knowledge-based theorists, using their critiques of TCE as the starting point for their own approaches to the firm. It ... More


Delegation, Agency, and Agenda Setting in the European Union

Mark A. Pollack

in The Engines of European Integration: Delegation, Agency, and Agenda Setting in the EU

Published in print:
2003
Published Online:
November 2003
ISBN:
9780199251179
eISBN:
9780191600111
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199251177.003.0002
Subject:
Political Science, European Union

Principal‐agent theories of delegation generate specific, testable hypotheses about delegation to supranational organizations in the European Union, including: the specific functions delegated to ... More


Organizational versus Market Knowledge: From Concrete Embodiment to Abstract Representation

Max H. Boisot, Ian C. MacMillan, and Kyeong Seok Han

in Explorations in Information Space: Knowledge, Actors, and Firms

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199250875
eISBN:
9780191719509
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199250875.003.0005
Subject:
Business and Management, Knowledge Management

In contrast to the neoclassical economic presumption in favour of markets, this chapter argues that organizations, not markets, should be taken as our default assumption. This argument is based on ... More


The Transaction-Cost Approach

Pol Antràs

in Global Production: Firms, Contracts, and Trade Structure

Published in print:
2015
Published Online:
October 2017
ISBN:
9780691168272
eISBN:
9781400873746
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691168272.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter develops a transaction-cost model of the internalization decision of multinational firms. A key organizational decision of firms is the extent of control that firms choose to exert over ... More


Transaction Cost Economics and Organization Theory

Oliver E. Williamson

in Technology, Organization, and Competitiveness: Perspectives on Industrial and Corporate Change

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198290964
eISBN:
9780191596162
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198290969.003.0002
Subject:
Economics and Finance, Microeconomics

This paper focuses on connections between transaction cost economics and organization theory, and argues that a three‐part relation is taking shape. The first and most important of these is that ... More


Homeownership and the Labour Market in Europe

Casper van Ewijk and Michiel van Leuvensteijn (eds)

Published in print:
2009
Published Online:
October 2011
ISBN:
9780199543946
eISBN:
9780191701320
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199543946.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Increasing labour market flexibility is at the top of the European agenda. A new and challenging view is that a lack of mobility in the labour market may arise from rigidities in the housing market. ... More


Internalization: Empirical Evidence

Pol Antràs

in Global Production: Firms, Contracts, and Trade Structure

Published in print:
2015
Published Online:
October 2017
ISBN:
9780691168272
eISBN:
9781400873746
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691168272.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter describes how the internalization theories discussed in the previous chapters can be taken to the data. The empirical literature on this topic is still budding and has yet to provide ... More


Transaction Costs and Institutional Innovation: Sustainability of Tank Aquaculture in Sri Lanka

Athula Senaratne and Kalpa Karunanayake

in Promise, Trust and Evolution: Managing the Commons of South Asia

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199213832
eISBN:
9780191707438
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199213832.003.0008
Subject:
Economics and Finance, South and East Asia

Freshwater community-based aquaculture was introduced to village irrigation tanks in the dry zone of Sri Lanka in order to offset the limited supply of animal proteins available to residents in ... More


Conclusions: So … Can Latin American Firms Compete?

Luiz F. Mesquita

in Can Latin American Firms Compete?

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199233755
eISBN:
9780191715549
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199233755.003.0016
Subject:
Business and Management, International Business

Latin America presents unique challenges, such as roller-coaster bouts of economic development boom and bust; massive presence of state in the economy; failing markets for human and physical capital, ... More


. Vertical Integration

NEIL M. KAY

in Pattern in Corporate Evolution

Published in print:
2000
Published Online:
October 2011
ISBN:
9780199242115
eISBN:
9780191697005
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199242115.003.0003
Subject:
Business and Management, Strategy, Organization Studies

This chapter explores the nature of vertical integration. It also analyses the ability of transaction-cost economics to deal with vertical integration. The chapter begins by analysing the foundations ... More


Islands of Transnational Governance

Alec Stone Sweet

in On Law, Politics, and Judicialization

Published in print:
2002
Published Online:
November 2003
ISBN:
9780199256488
eISBN:
9780191600234
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199256489.003.0010
Subject:
Political Science, Comparative Politics

The two papers in Ch. 5 examine how lawyers and law professors, operating in private arenas, successfully revived a pre-modern legal system, the Lex Mercatoria – the international body of trade law ... More


Managing Costs

August Baker, Dennis E. Logue, and Jack S. Rader

in Managing Pension and Retirement Plans: A Guide for Employers, Administrators, and Other Fiduciaries

Published in print:
2004
Published Online:
July 2005
ISBN:
9780195165906
eISBN:
9780199835508
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019516590X.003.0019
Subject:
Economics and Finance, Financial Economics

The effective management of a pension plan requires managing the costs of asset management. This means understanding and controlling investment costs such as the costs of trading, custody, and so ... More


Theories of the Multinational Enterprise

Jean‐François Hennart

in Oxford Handbook of International Business

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199241828
eISBN:
9780191596834
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199241821.003.0005
Subject:
Economics and Finance, International

A critical survey is presented of some of the theories that have been used to explain why multinational enterprises (MNEs) exist, with special emphasis on the transaction costs/internalization ... More


Transactions Cost Efficiencies of Capitalist Organizations

N. Scott Arnold

in The Philosophy and Economics of Market Socialism: A Critical Study

Published in print:
1995
Published Online:
October 2011
ISBN:
9780195088274
eISBN:
9780199853014
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195088274.003.0005
Subject:
Philosophy, Political Philosophy

Transactions cost analysis is a methodology that attempts to account for or explain free enterprise systems by understanding these phenomena as efficient responses to the objective and subjective ... More


A Theoretical and Thematic Framework

John F. Wilson and Andrew Thomson

in The Making of Modern Management: British Management in Historical Perspective

Published in print:
2006
Published Online:
September 2007
ISBN:
9780199261581
eISBN:
9780191718588
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199261581.003.0002
Subject:
Business and Management, Business History

This chapter represents a novel exercise in model-building. The first part reviews conceptual dimensions of the way in which management has been viewed: management in the theory of the firm; schools ... More


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