The Economics of Adaptation and Long-term Relationships

Dean V. Williamson

in Books from Edward Elgar Publishing

Abstract: Do institutions matter in economic theory? Or is the economic analysis of institutions a distraction from the most important action? Indeed, does Vernon Smith’s notion of the “institution-free core†of formal economic theory encompass that most important action? To explore this question, this book opens with an informal tour of the economics of system design out of which an economics of adaptation ultimately emerged. The book then offers explorations, via the application of the economics of adaptation in both law and economics relating to how parties manage relationships within the firm, within the context of long-term contracts, and, most vividly, within the context of antitrust conspiracy.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
JEL-codes: B4 (search for similar items in EconPapers)
Date: 2019
ISBN: 9781849800372
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Chapters in this book:

Ch 1 The provenance of an economics of adaptation in long-term relationships , pp 1-45

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Ch 2 The single-entity question in antitrust: ownership, control and delegation in organizations , pp 46-73

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Ch 3 Platform competition, the Apple eBooks case and the meaning of agreement to fix prices , pp 74-113

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Ch 4 Adaptation in long-term exchange relations: evidence of the complementarity and ancillarity of dimensions of electricity marketing contracts , pp 114-165

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Ch 5 The financial structure of Commercial Revolution: financing long-distance trade in Venice 1190–1220 and Venetian Crete 1278–1400 , pp 166-220

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Ch 6 Knowledge spillovers and industrial policy: evidence from the Advanced Technology Program and the Department of Defense , pp 221-254

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