search query: @indexterm ORGANIZATIONAL RESEARCH / total: 189
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| Author: | Williamson, O. E. |
| Title: | Comparative economic organization: The analysis of discrete structural alternatives. |
| Journal: | Administrative Science Quarterly
1991 : JUN, VOL. 36:2, p. 269-296 |
| Index terms: | ORGANIZATIONAL THEORY ORGANIZATIONAL RESEARCH ECONOMICS |
| Language: | eng |
| Abstract: | Institutional economics is combined with aspects of contract law and organization theory to identify and explicate the key differences that distinguish three generic forms of economic organization - market, hybrid, and hierarchy. It is shown that the three generic forms are distinguished by different coordinating and control mechanisms and by different abilities to adapt to disturbances. Also, each generic form is supported and defined by a distinctive type of contract law. Two separate areas of institutional economics are unified - the institutional environment and the institutions of governance. Changes in property rights, contract law, reputation effects, and uncertainty are investigated. |
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