The close relation between organization theory and Oliver Williamson's transaction cost economics: a theory of the firm perspective

Virgile Chassagnon and Bernard Baudry ()
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Bernard Baudry: LEFI - Laboratoire d'Economie de la Firme et des Institutions - UL2 - Université Lumière - Lyon 2

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Abstract: This article deals with the contribution of organization theory to transaction cost economics from an examination of Williamson's theory of the firm. Borrowing and applying some conclusions of organization theory, Williamson rightly differs from other theories of the firm, particularly in his analysis of hierarchical authority, intra-firm conflicts, organizational atmosphere, and the farsighted contracting. Having shed light on the complementary and divergent thoughts of these two different disciplinary approaches to the firm, the article recalls Williamson's project of building a ‘science of organization'.

Keywords: transaction cost economics; O. Williamson; organization theory; economics of the firm; economic methodology (search for similar items in EconPapers)
Date: 2010-12-01
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Citations: View citations in EconPapers (8)

Published in Journal of Institutional Economics, 2010, 6 (4)

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01372011

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