Quotes by Oliver E. Williamson - Page 1

If you believe that markets operate in Alan Greenspan fashion, then you don't inquire into the details.
Oliver E. Williamson / Economist
Details
Alan
Inquire
Operate
Copy Quote
The lens of contract focuses predominantly on gains from trade whereas orthodoxy is focused on resource allocation.
Oliver E. Williamson / Economist
Allocation
Focused
Gains
Orthodoxy
Contract
Lens
Resource
Whereas
Copy Quote
Teaching can be learning, especially if student curiosity with the question 'What's going on here?' can be elicited.
Oliver E. Williamson / Economist
Curiosity
Student
Copy Quote
My initial thoughts of becoming a lawyer changed in high school as I became more attracted to math and science and began talking about being an engineer.
Oliver E. Williamson / Economist
Science
Becoming
Changed
High School
Lawyer
Math
Math And Science
School
Talking
Attracted
Became
Began
High
Engineer
Initial
Thoughts
Copy Quote
Ronald Coase, in his classic 1937 paper on 'The Nature of the Firm,' was the first to bring the concept of transaction costs to bear on the study of firm and market organization.
Oliver E. Williamson / Economist
Classic
Firm
Organization
Paper
Study
Bear
Concept
Market
Transaction
Copy Quote
My first jobs after graduation in 1955 were as a project engineer for G.E. and later with the U.S. government in Washington, D.C., where I met and married my wife, Dolores Celini.
Oliver E. Williamson / Economist
Graduation
Jobs
Married
Washington
Project
Met
Copy Quote
The hypothesis that economic organization is the resultant of a series of historic accidents is intructive in that many organizational innovations appear to be the result of trial and error.
Oliver E. Williamson / Economist
Accidents
Economic
Historic
Hypothesis
Organization
Series
Trial And Error
Appear
Error
Innovations
Result
Trial
Copy Quote
The transaction cost approach maintains that some projects are easy to finance by debt and ought to be financed by debt. These are projects for which physical-asset specificity is low to moderate.
Oliver E. Williamson / Economist
Finance
Approach
Cost
Debt
Ought
Projects
Specificity
Financed
Low
Moderate
Transaction
Copy Quote
My university teacher and mentor Kenneth Arrow remembers me as a student who asked good questions. Although I had not previously thought of myself in that way, on reflection I think that Arrow was right.
Oliver E. Williamson / Economist
Reflection
Arrow
Remembers
Copy Quote
Vertical intergration is an organizational response to the contracting difficulties that attend intermediate product markets where trades that are supported by transaction-specific assets are exposed to hazard.
Oliver E. Williamson / Economist
Assets
Contracting
Exposed
Organizational
Response
Vertical
Attend
Difficulties
Hazard
Intermediate
Trades
Copy Quote
Managerial discretion can take many forms, some very subtle. Individual managers may run slack operations; they may pursue subgoals that are at variance with corporate purposes; they can engage in self-dealing.
Oliver E. Williamson / Economist
Corporate
Discretion
Operations
Subtle
Variance
Forms
Managerial
Purposes
Slack
Copy Quote
The field of 'economics and organization' is still young and needs support. I have been a chaired professor much of my academic life and know that such chairs are important for recruiting and retaining faculty.
Oliver E. Williamson / Economist
Academic
Chairs
Faculty
Retaining
Professor
Recruiting
Copy Quote
The presumption that an extant mode is efficient if the expected net gain is negative can nevertheless be rebutted by showing that the obstacles to implementing an otherwise superior feasible alternative are 'unfair.'
Oliver E. Williamson / Economist
Efficient
Implementing
Nevertheless
Obstacles
Presumption
Alternative
Feasible
Gain
Mode
Net
Showing
Superior
Copy Quote
The study of economic organization commonly proceeds as though market and administrative modes of organization were disjunct. Market organization is the province of economists. Internal organization is the concern of organization theory specialist. And never the twain shall meet.
Oliver E. Williamson / Economist
Economic
Organization
Study
Copy Quote
The organization of the government itself is something which we ought to examine in a more self-conscious way - the Federal Reserve and the Treasury and the Securities and Exchange Commission. The mission that each of them has is mainly economic but should be informed by good organizational practices.
Oliver E. Williamson / Economist
Federal Reserve
Organizational
Ought
Self Conscious
Treasury
Commission
Good Government Way
Examine
Informed
Mission
Mainly
Practices
Reserve
Securities
Copy Quote
Opportunism is self interest seeking with guile often involving subtle forms of deceit, especially calculated efforts to mislead, distort, disguise, obfuscate, or otherwise confuse. This vastly complicates the problems of economic organisation. Plainly if it were not for opportunism all behaviour could be rule governed
Oliver E. Williamson / Economist
Deceit
Effort
Self
Copy Quote
The remediableness criterion is an effort to deal symmetrically with real world institutions, both public and private, warts and all. The criterion is this: an extant mode of organization for which no superior feasible form of organization can be described and implemented with expected net gains is presumed to be efficient.
Oliver E. Williamson / Economist
Efficient
Effort
Form
Gains
Organization
Real World
Warts
Public
Criterion
Deal
Feasible
Implemented
Mode
Net
Private
Superior
Copy Quote

Related Economist Authors

Thomas Sowell
Economist
Monday, Jun 30, 1930
William Stanley Jevons
Economist
Tuesday, Sep 01, 1835
Sunday, Aug 13, 1882
William Petty
Economist
Friday, May 26, 1623
Tuesday, Dec 16, 1687
William Forsyth Sharpe
Economist
Saturday, Jun 16, 1934
William Easterly
Economist
Saturday, Sep 07, 1957
William Beveridge
Economist
Wednesday, Mar 05, 1879
Saturday, Mar 16, 1963
William A. Niskanen
Economist
Monday, Mar 13, 1933
Wednesday, Oct 26, 2011
Willem Buiter
Economist
Monday, Sep 26, 1949
Will Hutton
Economist
Sunday, May 21, 1950
Werner Sombart
Economist
Monday, Jan 19, 1863
Sunday, May 18, 1941
Wassily Leontief
Economist
Sunday, Aug 05, 1906
Friday, Feb 05, 1999
Wang Anshi
Economist
Saturday, Dec 08, 1021
Friday, May 21, 1086
Walter Heller
Economist
Friday, Aug 27, 1915
Monday, Jun 15, 1987
Walter E. Williams
Economist
Tuesday, Jun 30, 1936
Walter Block
Economist
Thursday, Aug 21, 1941

View All Economist Quotes

Top Authors

Saint Augustine
Saint
Saturday, Nov 13, 0354
Wednesday, Aug 28, 0430
Thomas Jefferson
3Rd US President
Saturday, Apr 13, 1743
Tuesday, Jul 04, 1826
Joe Biden
Vice President Of The United States
Friday, Nov 20, 1942
Henry Ford
Industrialist
Thursday, Jul 30, 1863
Monday, Apr 07, 1947
Elon Musk
Investor
Monday, Jun 28, 1971
John C. Maxwell
Author
Thursday, Feb 20, 1947
Winston Churchill
Former Prime Minister Of The United Kingdom
Monday, Nov 30, 1874
Sunday, Jan 24, 1965
Wayne Dyer
Author
Friday, May 10, 1940
Saturday, Aug 29, 2015
Lucy Larcom
Poet
Friday, Mar 05, 1824
Monday, Apr 17, 1893
Vincent Van Gogh
Painter
Wednesday, Mar 30, 1853
Tuesday, Jul 29, 1890
Dalai Lama
Saturday, Jul 06, 1935
Dr. Seuss
Writer
Wednesday, Mar 02, 1904
Tuesday, Sep 24, 1991
Deepak Chopra
Author
Wednesday, Oct 22, 1947
Friedrich Nietzsche
Philologist
Tuesday, Oct 15, 1844
Saturday, Aug 25, 1900
Maya Angelou
Author
Wednesday, Apr 04, 1928
Wednesday, May 28, 2014

View All Authors

Oliver E. Williamson Quotes - Page 1

Picture Quotes Maker

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page

Stay Connected

Picture Quotes Maker

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page