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Showing papers by "Oliver E. Williamson published in 2000"


Journal ArticleDOI
TL;DR: In this paper, the authors examine the progressive development of the new institutional economics over the past quarter century, distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of governance.
Abstract: This paper examines the progressive development of the new institutional economics over the past quarter century. It begins by distinguishing four levels of social analysis, with special emphasis on the institutional environment and the institutions of governance. It then turns to some of the good ideas out of which the NIE works: the description of human actors, feasibility, firms as governance structures, and operationalization. Applications, including privatization, are briefly discussed. Its empirical successes, public policy applications, and other accomplishments notwithstanding, there is a vast amount of unfinished business.

5,184 citations



Journal ArticleDOI
01 Jan 2000
TL;DR: The authors combine les apports des recherches juridiques, economiques, and en organisation, for identifier les modes alternatifs de gouvernance, for definir les attributs pertinents and for expliquer les performances relatives.
Abstract: L'economie des couts de transaction traite l'analyse de l'organisation economique principalement comme un probleme de gouvernance des relations contractuelles. Cette approche a combine les apports des recherches juridiques, economiques et en organisation, pour identifier les modes alternatifs de gouvernance, pour en definir les attributs pertinents et pour en expliquer les performances relatives. Depuis sa creation, l'economie des couts de transaction a evolue, partant de methodes d'analyse non-formalisees et aboutissant a des methodes formalisees, bien que la formalisation de la rationalite limitee demeure insatisfaisante.

23 citations


Journal ArticleDOI
TL;DR: This paper argued that the traditional theory of the firm-as-production function is self-limiting and needs, for some purposes, to be joined with the theory of law and economics.
Abstract: It being the case that law and economics is a success story, what are the reasons to call upon organization? Three related reasons are advanced here. First, the orthodox theory of the firm-as-production function is self-limiting and needs, for some purposes, to be joined with the theory of the firm-as-governance structure. Organization theory makes essential contributions to that project. Second, such a move has lessons for public policy analysis. Earlier and ongoing errors in antitrust and regulation are flagged and can be avoided as a consequence. And third, the traditional approach to teaching contract in the law school is reshaped if attention is shifted away from adjudication to focus predominantly on governance - as it should be.

10 citations