Efficient Labour Organization

Oliver Williamson

Chapter 6 in Firms, Organization and Labour, 1984, pp 87-118 from Palgrave Macmillan

Abstract: Abstract There are two general approaches to the study of efficient labour organization. The one is in the neo-classical tradition which emphasizes incentives, efficient risk-bearing, factor proportion distortions, and the like. The second has more recent origins. It emphasizes the contracting process and the transaction costs that are associated therewith. A comparative institutional assessment of alternative governance structures is attempted, the object being to align the attributes of transactions with those of governance structures in a discriminating (mainly transactions costs economizing) way.

Keywords: Transaction Cost; Governance Structure; Vertical Integration; Employment Relation; Dominant Firm (search for similar items in EconPapers)
Date: 1984
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DOI: 10.1007/978-1-349-06663-6_6

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