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Markets and Hierarchies Analysis and Antitrust Implications

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ISBN-10: 0029347807

ISBN-13: 9780029347805

Edition: 1983 (Reprint)

Authors: Oliver E. Williamson

List price: $19.99
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Book details

List price: $19.99
Copyright year: 1983
Publisher: Free Press
Publication date: 1/1/1983
Binding: Paperback
Pages: 286
Size: 6.25" wide x 9.25" long x 0.75" tall
Weight: 0.946
Language: English

Preface to the College Edition
Preface
Introduction
Toward n New Institutional Economics
Some Antecedents
A Preliminary Statement of the Organizational Failures Framework
Three Illustrations
The Organizational Failures Framework
Bounded Rationality and Uncertainty/Complexity
Opportunism and Small Numbers
Information Impactedness
Atmosphere
Summary Remarks
Peer Groups and Simple Hierarchies
1
2
3
4
5
Understanding the Employment Relation
Remarks on the Labor Economics Literature
Technology: Conventional and Idiosyncratic Considerations
Individualistic Bargaining Models
The Efficiency Implications of Internal Labor Market Structures
Concluding Remarks
Intermediate Product Markets and Vertical Integration
Prior Literature: A Transactional Interpretation
Static Markets
Sales Contracts for Component Supply
Unified Ownership of Plant and Equipment: Simple Hierarchy Extended
Complex Hierarchy: The Employment Relation Extended
Forward Integration into Wholesaling
Concluding Remarks
Vertical Integration, II: Some Qualifications
Interfirm Exchange: Some Qualifications
Possible or Purported Antisocial Consequences
Antitrust Implications
Limits of Vertical Integration and Firm Size
Internalizing the Incremental Transaction: Some Disabilities
Size Considerations
Incentive Limits of the Employment Relation
Concluding Remarks
The Multidivisional Structure
The Unitary Form Enterprise
Organizational Innovation: The Multidivisional Structure
Competition in the Capital Market
Optimum Divisionalization
The "M-form hypothesis" and Concluding Remarks
Classification Scheme
Conglomerate Organization
The Affirmative Emphasis
Competition in the Capital Market
Public Policy Issues
Some Evidence
Concluding Remarks
Market Structure in Relation to Technical and Organizational Innovation
Technical Innovation and Market Structure: The Conventional Dichotomy
Technical Innovation and Market Structure: Refinements
Organizational Innovation and Market Structure
A Systems Approach
Dominant Firms and the Monopoly Problem
The Current Approach to Unlawful Monopolization
A Market Failure Interpretation of Dominance
Government Intervention and Market Failure
Remedies for Structural Dominance
Application to the Structure-Conduct Controversy
Dominant Firms and the Organizational Failures Framework
Conclusion
Oligopoly: Interfirm versus Intrafirm Organization
Some Antecedents
Oligopoly Regarded as a Problem of Contracting
The Contracting Approach and Prior Treatments Contrasted
Policy Implications: Dominant Firms versus Oligopolistic Interdependence
Conclusions
Toward a Transactional Paradigm
The Organizational Failures Framework and Hierarchy
Antitrust Implications
Some Directions for Future Research
Bibliography
Index