New institutional economics
New institutional economics (NIE) is an economic perspective that attempts to extend economics by focusing on the social and legal norms and rules (which are institutions) that underlie economic activ...
Transaction cost
In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange (restated: the cost of participating in a market).Transaction costs can be divided into three...
Transaction cost - Wikipedia
Douglass North
Douglass Cecil North (born November 5, 1920) is an American economist known for his work in economic history. He is the co-recipient (with Robert William Fogel) of the 1993 Nobel Memorial Prize in Eco...
Coase theorem
In law and economics, the Coase theorem (pronounced /ˈkoʊs/) describes the economic efficiency of an economic allocation or outcome in the presence of externalities. The theorem states that if trade i...
Coase theorem - Wikipedia
Oliver E. Williamson
Oliver Eaton Williamson (born September 27, 1932) is an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences.<...
Oliver E. Williamson - Wikipedia
Williamson's model of managerial discretion
Oliver E. Williamson hypothesised (1964) that profit maximization would not be the objective of the managers of a joint stock organisation.This theory, like other managerial theories of the firm, assu...
Williamson's model of managerial discretion - Wikipedia
Ronald Coase
Ronald Harry Coase (/ˈkoʊz/; 29 December 1910 – 2 September 2013) was a British economist and author. He was for much of his life the Clifton R. Musser Professor Emeritus of Economics at the Universit...
Ronald Coase - Wikipedia