Williamson (1979) - Transaction Cost Economics - Revision history

Ed at 23:15, 29 September 2020

2020-09-29T23:15:20Z

Maintenance script at 17:24, 29 September 2020

2020-09-29T17:24:05Z

Maintenance script at 17:20, 29 September 2020

2020-09-29T17:20:55Z

Maintenance script at 17:14, 29 September 2020

2020-09-29T17:14:08Z

Maintenance script at 17:07, 29 September 2020

2020-09-29T17:07:14Z

Ed at 16:48, 29 September 2020

2020-09-29T16:48:19Z

imported>Ed at 01:38, 3 December 2011

2011-12-03T01:38:58Z

imported>Ed: /* Vocabulary */

2010-06-12T00:44:25Z

Vocabulary

imported>Ed at 00:31, 12 June 2010

2010-06-12T00:31:04Z

Show changes

imported>Ed: New page: ==Reference(s)== Williamson, Oliver (1979), "Transaction-Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, Vol. 22, No. 2. (Oct.), pp. 233-261. [http:...

2010-04-05T02:02:01Z

New page: ==Reference(s)== Williamson, Oliver (1979), "Transaction-Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, Vol. 22, No. 2. (Oct.), pp. 233-261. [http:...

New page

==Reference(s)==
Williamson, Oliver (1979), "Transaction-Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, Vol. 22, No. 2. (Oct.), pp. 233-261. [http://www.edegan.com/pdfs/Williamson%20(1979)%20-%20Transaction%20Cost%20Economics.pdf pdf]

==Abstract==
The new institutional economics is preoccupied with the origins, incidence, and ramifications of transaction costs. Indeed, if transaction costs are negligible, the organization of economic activity is irrelevant, since any advantages one mode of organization appears to hold over another will simply be eliminated by costless contracting. But despite the growing realization that transaction costs are central to the study of economics,1 skeptics remain. Stanley Fischer's complaint is typical: "Transaction costs have a well-deserved bad name as a theoretical device... [partly] because there is a suspicion that almost anything can be rationalized by invoking suitably specified transaction costs." Put differently, there are too many degrees of freedom; the concept wants for definition.

@@ Line 1: / Line 1: @@
 {{Article
 |Has page=Williamson (1979) - Transaction Cost Economics
-|Has title=Transaction Cost Economics
+|Has bibtex key=
 |Has author=Williamson
 |Has year=1979

@@ Line 2: / Line 2: @@
 |Has page=Williamson (1979) - Transaction Cost Economics
 |Has title=Transaction Cost Economics
-|Has author=
+|Has author=Williamson
 |Has year=1979
 |In journal=

@@ Line 3: / Line 3: @@
 |Has title=Transaction Cost Economics
 |Has author=
-|Has year=
+|Has year=1979
 |In journal=
 |In volume=

@@ Line 1: / Line 1: @@
 {{Article
 |Has page=Williamson (1979) - Transaction Cost Economics
-|Has title=
+|Has title=Transaction Cost Economics
 |Has author=
 |Has year=

@@ Line 1: / Line 1: @@
 {{Article
-|Has page=
+|Has page=Williamson (1979) - Transaction Cost Economics
 |Has title=
 |Has author=

← Older revision		Revision as of 16:48, 29 September 2020
Line 1:		Line 1:
		+	{{Article
		+	\|Has page=
		+	\|Has title=
		+	\|Has author=
		+	\|Has year=
		+	\|In journal=
		+	\|In volume=
		+	\|In number=
		+	\|Has pages=
		+	\|Has publisher=
		+	}}
	*This page is referenced in [[BPP Field Exam Papers]]		*This page is referenced in [[BPP Field Exam Papers]]

← Older revision		Revision as of 01:38, 3 December 2011
Line 5:		Line 5:

	Williamson, Oliver (1979), "Transaction-Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, Vol. 22, No. 2. (Oct.), pp. 233-261. [http://www.edegan.com/pdfs/Williamson%20(1979)%20-%20Transaction%20Cost%20Economics.pdf pdf]		Williamson, Oliver (1979), "Transaction-Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, Vol. 22, No. 2. (Oct.), pp. 233-261. [http://www.edegan.com/pdfs/Williamson%20(1979)%20-%20Transaction%20Cost%20Economics.pdf pdf]
		+
		+	@article{williamson1979transaction,
		+	title={Transaction-cost economics: the governance of contractual relations},
		+	author={Williamson, O.E.},
		+	journal={Journal of law and economics},
		+	volume={22},
		+	number={2},
		+	pages={233--261},
		+	year={1979},
		+	publisher={JSTOR}
		+	}

@@ Line 22: / Line 22: @@
 Opportunism - is what we would now call rational (selfish) utility or profit maximization.
 Veridical - truthful (used in the context of differentiating between multiple truthful outcomes in Williamson)
 ==General Concensus on Transaction Costs==