Transaction cost ecomics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phemena that have yet to be investigated in transaction cost ecomics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation. This important collection brings together Professor Williamson's key papers on transaction cost ecomics. It will be of benefit to academics, scholars and practitioners with an interest in this progressive subject.
Oliver E. Williamson, Professor, Graduate School and Edgar F. Kaiser Professor Emeritus of Business, Economics, and Law, University of California, Berkeley, US and 2009 Winner of the Nobel Prize in Economics for Studies of Economic Governance