Markets and Hierarchies: A Study in the Internal Organizations.
WILLIAMSON, Oliver E.
Markets and Hierarchies: A Study in the Internal Organizations.
First Edition of Markets and Hierarchies: A Study in the Internal Organizations; Inscribed by Nobel Prize-winning economist Oliver Williamson
New York: The Free Press, 1975.
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Item Number: 150323
First edition of the Nobel Prize-winning economist’s classic work. Octavo, original cloth. Presentation copy, inscribed by the author on the front free endpaper, “To John Rogers, Thank you for your interest Oliver Williamson.” In near fine condition, small name to the front pastedown. First editions are rare, inscribed examples exceptionally so.
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.
