Oliver Williamson: The Man Who Decreased the Transaction Value of Economics
Nice tribute to Prof Oliver Williamson by Ranjan Kumar Ghosh and Yugank Goyal:
On Could 21st, some of the cited economists of all time and a key contributor to organizational research, Professor Oliver E. Williamson handed away. Regardless of being ubiquitous throughout economics, administration, legislation and social sciences, he stays underappreciated in mainstream improvement and coverage discourse in growing nations. On this article, we reveal his concepts; and their tenacity, versatility and ease. We present that his mental equipment of transaction value economics is certainly a robust software to elucidate a variety of real-life phenomena throughout a wide range of disciplines with impeccable sensible implications. We additionally look at his methodological strategy and integrity that may information substantive and pragmatic inquiry for generations to come back.