O.E. Williamson's scientific contributions

Citations

... According to NIE, market institutions condition economic development and wealth. NIE approaches compare the transaction-cost implications of given institutional configurations (Langlois, 1989, pp.293-294;Nooteboom, 1992;Williamson, 1991). NIE explanations argue that mobile technologies reduce transaction costs that accrue with identifying contracting partners, negotiate and reach contractual agreements and monitor and enforce contract fulfilment. ...