• DOI:10.1086/227496
Corpus ID: 154070008

The Economics of Organization: The Transaction Cost Approach

@article{Williamson1981TheEO,
  title={The Economics of Organization: The Transaction Cost Approach},
  author={O. Williamson},
  journal={American Journal of Sociology},
  year={1981},
  volume={87},
  pages={548 - 577}
}

O. Williamson

Published 1981

Economics

American Journal of Sociology

The transaction cost approach to the study of economic organization regards the transaction as the basic unit of analysis and holds that an understanding of transaction cost economizing is central to the study of organizations. Applications of this approach require that transactions be dimensionalized and that alternative governance structures be described. Economizing is accomplished by assigning transactions to governance structures in a discriminating way. The approach applies both to the… CONTINUE READING

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