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Oliver E. Williamson Quotes

Oliver Eaton Williamson is an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences, which he shared with Elinor Ostrom. Wikipedia  

✵ 27. September 1932
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Oliver E. Williamson: 3 quotes0 likes

Famous Oliver E. Williamson Quotes

“Information impactedness is a derivative condition that arises mainly because of uncertainty and opportunism, though bounded rationality is involved as well. It exists when true underlying circumstances relevant to the transaction, or related set of transactions, are known to one or more parties but cannot be costlessly discerned by or displayed for others.”

Oliver E. Williamson

Oliver E. Williamson (1975) Markets and Hierarchies p. 31.

“Because internal organization experiences added bureaucratic costs, the firm is usefully thought as the organization of last resort: try markets, try hybrids (long term contractual relations into which security features have been crafted), and resort to firms when all else fails”

Oliver E. Williamson

compatatively
Oliver E. Williamson (1999, p. 1091) cited in: Steve Cropper (2008) The Oxford Handbook of Inter-organizational Relations. p. 355.

“For those who, like myself, are inclined to be eclectic, no comprehensive commitment to one approach rather than another needs to be made. What is involved, rather, is the selection of the approach best suited to deal with the problems at hand.”

Oliver E. Williamson

Oliver E. Williamson (1975) Markets and Hierarchies p. 249.

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