{"product_id":"the-mechanisms-of-governance-paperback","title":"The Mechanisms of Governance - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eOliver E. Williamson\u003c\/b\u003e (Editor), \u003cb\u003eOliver E. Williamson\u003c\/b\u003e (Preface by)\u003c\/p\u003e\u003cp\u003eThis book brings together in one place the work of one of our most respected economic theorists, on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eTransaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization--firms, markets, hybrids, bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. \u003cp\u003e\u003c\/p\u003eTransaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do, and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis, \u003cem\u003eThe Mechanisms of Governance\u003c\/em\u003e shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization, but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. \u003cp\u003e\u003c\/p\u003eWritten by one of the leading economic theorists of our time, \u003cem\u003eThe Mechanisms of Governance\u003c\/em\u003e is sure to be an important work for years to come. It will be of interest to scholars and students of economics, organization, management, and law.\u003cbr\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cbr\u003eOliver E. Williamson is the Edgar F. Kaiser Professor of Business, Professor of Economics, and Professor of Law at the University of California at Berkeley. He is the author of numerous works in which law, economics, and organization are joined.\u003cbr\u003e\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 448\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.17 x 9.15 x 6.05 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e March 18, 1999\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52477589061939,"sku":"9780195132601","price":127.6,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/RmpiM3hIL3FYaXRvWlgyWFpScElzZz09.webp?v=1759622065","url":"https:\/\/www.vysn.com\/products\/the-mechanisms-of-governance-paperback","provider":"VYSN","version":"1.0","type":"link"}