The Mechanisms of Governance
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The Mechanisms of Governance Description
Oliver Williamson has helped to create a new perspective that economists use to understand the ways that organizations function. Traditionally, economists have viewed firms as "black boxes" that maximize some economic function (like profit). Williamson shows that decision makers in firms respond to economic factors - what he calls "transaction costs" - within the firm that affect both the structure of the individual firm and the structure of the industry within whichthe organization operates.
Details
| OPC | PDHNJ2Q |
|---|---|
| Codes | 0195078241 (ISBN-10) |
| 9780195078244 (ISBN) |
Disclaimer: The information below is provided by various external sources and should be used as a guide only.
New Institutional Economics is a new way to look at how organizations function. Rather than seeing the firm as a black box Williamson shows how decision makers respond to economic factors WITHIN the firm - what he calls transaction cost economics (TCE). In this series of studies Williamson shows how complexity expands in organizations because of bounded rationality and opportunism; that is the bad news of his message. The good news is that individuals within organizations become perceptive of resulting hazards they may and do encounter and are adept at fashioning their organizations to cope creatively with difficult situations. This creativity accounts for diversity among organizations in which governance structures are adapted to firm - or industry-specific hazards.
Alternative names:
- ISBN The Mechanisms of Governance book English Paperback 448 pages
Detailed Product Information
Features
| Language version | English |
|---|---|
| Release date (DD/MM/YYYY) | 20/06/1996 |
| Number of pages | 448 pages |
| Written by | Oliver E. Williamson |
| Publisher | Oxford University Press |
| Suggested gender | Any gender |
| International Standard Book Number (ISBN) | 9780195078244 |
| Book cover type | Paperback |
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