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Is Oliver E. Williamson known for a new interpretation of existing concepts?
Yes
No
Partially, he introduced a few new concepts
No need for a new interpretation
Answer
Oliver E. Williamson is a Nobel Prize winner in economics. He is known for his new interpretation of transaction costs and property rights. Transaction costs are the costs of doing business. Property rights are the rights to own and use property. Williamson argued that transaction costs and property rights are important factors in determining how firms organize their activities.
Discovering the Economics Legacy: The Oliver E. Williamson Quiz
More Questions
Is transaction cost economics still relevant today?
Was Oliver E. Williamson's the only one to work on transaction cost economics?
Is transaction cost economics related to the operations of a firm?
Does transaction cost economics involve legal contracts?
Oliver E. Williamson's theories have been influential in which fields?
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