Dec 09 2009
Professor Oliver E Williamson
Nobel Prize Laureate in Economics 2009
Prof. Oliver E. Williamson was awarded the Nobel Memorial Prize in Economics for “his analysis of economic governance, especially the boundaries of the firm” in 2009, sharing it with Elinor Ostrom. He is the Edgar F. Kaiser Professor Emeritus of Business, Economics and Law and Professor of the Graduate School, both at the University of California, Berkeley, USA. He is a prominent author in the area of transaction cost economics and related disciplines and is credited with the development of the term “Information Impactedness”, which applies in situations where it is difficult to ascertain what the costs to information are.
“Oliver E. Williamson is one of the leading economic theorists of our time”
Oliver E. Williamson received his B.Sc. in management from the MIT Sloan School of Management, M.B.A. from Stanford University, and his Ph.D. from Carnegie Mellon University. He is recognised for developing a theory where business firms serve as structures for conflict resolution, and has argued that hierarchical organisations, such as companies, represent alternative governance structures, which differ in their approaches to resolving conflicts of interest.[/expand]
Author of one of the most important books on the corporation, Prof. Williamson has been instrumental in establishing economic governance as a field of research. His focus on the cost of transactions has led him to distinguish between repeated case-by-case bargaining on the one hand and relationship-specific contracts on the other. He is highly sought-after by government organisations and corporations eager to reap the benefits of his considerable expertise, in-depth research and proven economic strategies.[/expand]
Oliver E. Williamson is an engaging, enlightening and highly informative speaker with an unparalleled level of knowledge of today’s economic markets.[/expand]
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Topics
Information Impactedness
Microeconomics
The New Institutional Economics
Transaction Cost Economics
Economic Governance
Opening the Black Box of Firm and Market Organization: Antitrust
Publications
1996
The Mechanisms of Governance
1991
The Nature of the Firm: Origins, Evolution, and Development (co-edited with Sidney Winter)
1985
The Economic Institutions of Capitalism
1975
Markets and Hierarchies: Analysis and Antitrust Implications
Awards and Fellowships
2009 – The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
2007 – Distinguished Fellow, American Economic Association
2004 – Horst Claus Recktenwald Prize in Economics
1997 – Fellow, American Academy of Political and Social Science
1994 – Member, National Academy of Sciences
1983 – Fellow, American Academy of Arts and Sciences
1977 – Fellow, Econometric Society
1962 – Alexander Henderson Award
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