Description
Contract, Governance and Transaction Cost Economics, Hardcover by Williamson, Oliver E.; Chen, Gengxuan (EDT), ISBN 9813202076, ISBN-13 9789813202078, Brand New, Free shipping in the US This book brings together a collection of seven papers on Transaction Cost Economics by Nobel Laureate Professor Oliver E Williamson. The applications of Transaction Cost Economics are extensive, ranging from the field of industrial organization and applied fields of economics such as labor, public finance, comparative economic systems and economic development, to the business fields of strategy, organizational behavior, marketing, finance, operations management, and accounting. In short, as Williamson states, "any problem that originates as or can be reformulated as a contracting problem can be examined to advantage in transaction cost economizing terms." What is referred to as New Institutional Economics is developed in the West in two mainly complementary ways: Property Rights Theory, and Transaction Cost Economics. Of the two, Property Rights Theory developed more rapidly. Transaction Cost Economics has nonetheless taken shape of on New Institutional Economics in China began in the 1990s and has grown rapidly since. China has similarly given much more attention to Property Rights Theory. Chen's recommendation is that China will benefit by bringing Transaction Cost Economics to bear. Simultaneously, for economic scholars who study the market economy, Transaction Cost Economics provides a very attractive way to explain the practice of the Chinese market economy.
This book is a must-read for anyone interested in transaction cost economics or governance! Compiled by Gengxuan Chen, it features seven insightful papers by Nobel Laureate Oliver E. Williamson, offering deep yet accessible analysis. The applications span industrial organization, labor economics, public finance, and more, making it highly relevant for academics and practitioners. The hardcover edition is well-made, and with free shipping in the US, it's a great value for the wealth of knowledge inside. Perfect for students, researchers, or professionals looking to deepen their understanding of economic governance!