My initial thoughts of becoming a lawyer changed in high school as I became more attracted to math and science and began talking about being an engineer. Oliver E. Williamson attractbeginchange Change image and share on social
The lens of contract focuses predominantly on gains from trade whereas orthodoxy is focused on resource allocation. Oliver E. Williamson allocationcontractfocus Change image and share on social
My first jobs after graduation in 1955 were as a project engineer for G.E. and later with the U.S. government in Washington, D.C., where I met and married my wife, Dolores Celini. Oliver E. Williamson celinidoloreengineer Change image and share on social
Vertical intergration is an organizational response to the contracting difficulties that attend intermediate product markets where trades that are supported by transaction-specific assets are exposed to hazard. Oliver E. Williamson assetattendcontract share on social
The remediableness criterion is an effort to deal symmetrically with real world institutions, both public and private, warts and all. The criterion is this: an extant mode of organization for which no superior feasible form of organization can be described and implemented with expected net gains is presumed to be efficient. Oliver E. Williamson criteriondealefficient share on social