Markets and Hierarchies
Title | Markets and Hierarchies PDF eBook |
Author | Oliver E. Williamson |
Publisher | |
Pages | 0 |
Release | 2009 |
Genre | |
ISBN |
This study analyzes organization of economic activity within and between markets and hierarchies. It considers the transaction to be the ultimate unit of microeconomic analysis, and defines hierarchical transactions as ones for which a single administrative entity spans both sides of the transaction, some form of subordination prevails and, typically, consolidated ownership obtains. Discusses the advantages of the transactional approach by examining three issues: price discrimination, insurance, and vertical integration. Develops the concept of the organizational failure framework, and demonstrates why it is always the combination of human with environmental factors, not either taken by itself, that causes transactional problems. The study also describes each of the transactional relations of interest, and presents the advantages of internal organization with respect to the transactional condition. The analysis explains why primary work groups of the peer group and simple hierarchy types arise. The same transactional factor which impede autonomous contracting between individuals also impede market exchange between technologically separable work groups. Peer groups can be understood as an internal organizational response to the frictions of intermediate product markets, while conglomerate organization can be seen as a response to failures in the capital market. In both contexts, the same human factors, such as bounded rationality and opportunism, occur. Examines the reasons for and properties of the employment relation, which is commonly associated with voluntary subordination. The analysis attempts better to assess the employment relation in circumstances where workers acquire, during the course of the employment, significant job-specific skills and knowledge. The study compares alternative labor-contracting modes and demonstrates that collective organization is helpful in enhancing the acquisition of idiosyncratic knowledge and skills by the work force. The study then examines more complex structures -- the movement from simple hierarchies to the vertical integration of firms, then multidivisional structures, conglomerates, monopolies and oligopolies. Discusses the market structure in relation to technical and organizational innovation. The study proposes a systems approach to the innovation process. Its purpose is to permit the realization of the distinctive advantages of both small and large firms which apply at different stages of the innovation process. The analysis also examines the relation of organizational innovation to technological innovation. (AT).
Markets and Hierarchies Analysis and Antitrust Implications
Title | Markets and Hierarchies Analysis and Antitrust Implications PDF eBook |
Author | Oliver E. Williamson |
Publisher | |
Pages | 0 |
Release | 1975 |
Genre | Business enterprises |
ISBN |
MARKETS AND HIERARCHIES
Title | MARKETS AND HIERARCHIES PDF eBook |
Author | Oliver E. Williamson |
Publisher | |
Pages | 308 |
Release | 1983 |
Genre | Business & Economics |
ISBN |
Between Hierarchies and Markets
Title | Between Hierarchies and Markets PDF eBook |
Author | Grahame Thompson |
Publisher | Oxford University Press, USA |
Pages | 294 |
Release | 2003 |
Genre | Business & Economics |
ISBN | 9780198775270 |
"This book conducts a survey into the ways in which the word 'network' has been deployed in a wide range of literature. In particular, it offers a commentary on how the idea of networks has been to illustrate contemporary forms of socio-economic organization (as well the idea of a 'network society' or a 'network state', for instance), broadly conceived to also include the political aspects of networks."--BOOK JACKET. Book jacket.
Markets, Hierarchies and Networks
Title | Markets, Hierarchies and Networks PDF eBook |
Author | Grahame Thompson |
Publisher | SAGE |
Pages | 316 |
Release | 1991-12-30 |
Genre | Social Science |
ISBN | 9780803985902 |
This interdisciplinary reader provides a distinctive introduction to the way social, political and economic life is coordinated. It brings together three quite different models of coordination - markets, hierarchies and networks - and places them into a comparative framework, presenting a comprehensive and insightful overview of social coordination. The articles dealing with each model explore the characteristics of that coordinating mechanism, outlining key theoretical issues and drawing on various empirical examples. The final section shows how these models can be compared and contrasted. It also assesses the respective strengths, weaknesses and limitations of each model. Markets, Hierarchies and Networks is a set
Firms, Markets and Hierarchies
Title | Firms, Markets and Hierarchies PDF eBook |
Author | Glenn R. Carroll |
Publisher | Oxford University Press |
Pages | 561 |
Release | 1999-01-28 |
Genre | Business & Economics |
ISBN | 0195119517 |
This text presents a stock-taking of the work that has been done since the appearance of Oliver Williamson's seminal book Markets and Hierarchies, which gave new life to the concept of transaction cost analysis.
Public Management and the Metagovernance of Hierarchies, Networks and Markets
Title | Public Management and the Metagovernance of Hierarchies, Networks and Markets PDF eBook |
Author | Louis Meuleman |
Publisher | Springer Science & Business Media |
Pages | 408 |
Release | 2008-04-03 |
Genre | Business & Economics |
ISBN | 3790820547 |
Public managers can, to a certain extent, choose between various mana- ment paradigms which are provided by public and business administration scholars and by politicians as well. How do they find their way in this c- fusing supermarket of competing ideas? This book explores how public managers in Western bureaucracies deal with the mutually undermining ideas of hierarchical, network and market governance. Do they possess a specific logic of action, a rationale, when they combine and switch - tween these governance styles? This chapter sets the scene for the book as a whole and presents the - search topic and the research question. 1.1 Problem setting Since the Second World War, Western public administration systems have changed drastically. The hierarchical style of governing of the 1950s to the 1970s was partly replaced by market mechanisms, from the 1980s - wards. In the 1990s, a third style of governing, based on networks, further enriched the range of possible steering, coordination and organisation - terventions. In the new millennium, public sector organisations seem to apply complex and varying mixtures of all three styles of what we will - fine as governance in a broad sense. This development has brought about two problems.