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Transaction Cost Economics: The Natural Progression

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  • Oliver E. Williamson

Abstract

Oliver E. Williamson delivered his Prize Lecture on 8 December 2009 at Aula Magna, Stockholm University. He was introduced by Professor Bertil Holmlund, Chairman of the Economic Sciences Prize Committee.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.100.3.673
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 100 (2010)
Issue (Month): 3 (June)
Pages: 673-90

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Handle: RePEc:aea:aecrev:v:100:y:2010:i:3:p:673-90

Note: DOI: 10.1257/aer.100.3.673
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References

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  1. Simon, Herbert A., 1984. "On the behavioral and rational foundations of economic dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 5(1), pages 35-55, March.
  2. Coase, R H, 1988. "The Nature of the Firm: Meaning," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 19-32, Spring.
  3. Lewis, Tracy R, 1983. "Preemption, Divestiture, and Forward Contracting in a Market Dominated by a Single Firm," American Economic Review, American Economic Association, vol. 73(5), pages 1092-1101, December.
  4. Oliver E. Williamson, 2003. "Examining economic organization through the lens of contract," Industrial and Corporate Change, Oxford University Press, vol. 12(4), pages 917-942, August.
  5. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-90, June.
  6. DREZE , Jacques H., 1994. "Forty Years of Public Economics : A Personal Perspective," CORE Discussion Papers 1994075, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Buchanan, James M, 1975. "A Contractarian Paradigm for Applying Economic Theory," American Economic Review, American Economic Association, vol. 65(2), pages 225-30, May.
  8. Fischer, Stanley, 1977. "`Long-term contracting, sticky prices, and monetary policy' : A comment," Journal of Monetary Economics, Elsevier, vol. 3(3), pages 317-323, July.
  9. Brian Snowdon & Howard R. Vane, 1997. "Modern macroeconomics and its evolution from a monetarist perspective: An interview with Professor Milton Friedman," Journal of Economic Studies, Emerald Group Publishing, vol. 24(4), pages 191-221, September.
  10. Coase, R H, 1988. "The Nature of the Firm: Influence," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 33-47, Spring.
  11. Bajari, Patrick & Tadelis, Steven, 2001. "Incentives versus Transaction Costs: A Theory of Procurement Contracts," RAND Journal of Economics, The RAND Corporation, vol. 32(3), pages 387-407, Autumn.
  12. George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, vol. 59, pages 185.
  13. Oliver E. Williamson, 2008. "Corporate Boards of Directors: In Principle and in Practice," Journal of Law, Economics and Organization, Oxford University Press, vol. 24(2), pages 247-272, October.
  14. Shultz, George P, 1995. "Economics in Action: Ideas, Institutions, Policies," American Economic Review, American Economic Association, vol. 85(2), pages 1-8, May.
  15. Levy, Brian & Spiller, Pablo T, 1994. "The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation," Journal of Law, Economics and Organization, Oxford University Press, vol. 10(2), pages 201-46, October.
  16. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-40, September.
  17. Oliver E. Williamson, 1976. "Franchise Bidding for Natural Monopolies -- in General and with Respect to CATV," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 73-104, Spring.
  18. Coase, R H, 1988. "The Nature of the Firm: Origin," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 3-17, Spring.
  19. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
  20. Stigler, George J, 1992. "Law or Economics?," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 455-68, October.
  21. Oliver E. Williamson, 2002. "The Theory of the Firm as Governance Structure: From Choice to Contract," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 171-195, Summer.
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Citations

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Cited by:
  1. Button, Kenneth, 2013. "The 2011 Martin Kunz Memorial Lecture: Air transport, the environment and institutional economics," Journal of Air Transport Management, Elsevier, vol. 26(C), pages 1-7.
  2. Marianne Fischman & Emeric Lendjel, 2012. "Maritime Ports And Inland Interconnections: A Transactional Analysis Of Container Barge Transport In France," Post-Print halshs-00741127, HAL.
  3. Simone Moriconi, 2012. "Taxation and Incomplete Contracts," DISCE - Quaderni dell'Istituto di Teoria Economica e Metodi Quantitativi itemq1263, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
  4. Guy David & Evan Rawley & Daniel Polsky, 2011. "Integration and Task Allocation: Evidence from Patient Care," NBER Working Papers 17419, National Bureau of Economic Research, Inc.
  5. Emeric Lendjel & Marianne Fischman & Elisabeth Gouvernal, 2012. "Les Structures De Gouvernances De La Chaine Transactionnelle Du Transport Fluvial De Conteneurs Sur Le Rhone," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00741130, HAL.
  6. Charles Nolan & Alex Trew, 2011. "Transaction Costs and Institutions," CDMA Working Paper Series 201103, Centre for Dynamic Macroeconomic Analysis.
  7. Merkert, Rico & Hensher, David A., 2013. "Regulation, trust and contractual incentives around transport contracts – Is there anything bus operators can learn from public air service contracts?," Research in Transportation Economics, Elsevier, vol. 39(1), pages 67-78.
  8. Alberto Bayo-Moriones & Jose Enrique Galdon-Sanchez & Sara Martinez-de-Morentin, 2013. "The Process of Wage Adjustment: An Analysis Using Establishment- Level Data," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 1306, Departamento de Economía - Universidad Pública de Navarra.
  9. Hermano, Víctor & Martín-Cruz, Natalia, 2013. "How to Deliver Foreign Aid? The Case of Projects Governed by the Spanish International Agency," World Development, Elsevier, vol. 43(C), pages 298-314.
  10. Masten, S.E. & Prüfer, J., 2011. "On the Evolution of Collective Enforcement Institutions: Communities and Courts," Discussion Paper 2011-074, Tilburg University, Center for Economic Research.
  11. Cosmin MARINESCU, 2012. "Transaction Costs and Economic Performance: An Institutional Approach," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(2), pages 371-379, December.
  12. Marianne Fischman & Emeric Lendjel, 2012. "Maritime Ports And Inland Interconnections: A Transactional Analysis Of Container Barge Transport In France," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00741127, HAL.
  13. Emeric Lendjel & Marianne Fischman & Elisabeth Gouvernal, 2012. "Les Structures De Gouvernances De La Chaine Transactionnelle Du Transport Fluvial De Conteneurs Sur Le Rhone," Working Papers halshs-00741130, HAL.
  14. Mundaca, Luis & Mansoz, Mathilde & Neij, Lena & Timilsina, Govinda R, 2013. "Transaction costs of low-carbon technologies and policies : the diverging literature," Policy Research Working Paper Series 6565, The World Bank.

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