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Oliver Williamson
Oliver Eaton Williamson (September 27, 1932 – May 21, 2020) was an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences, which he shared with Elinor Ostrom. His contributions to transaction cost economics and the theory of the firm are influential in the social sciences. Life and career Williamson was born in Superior, Wisconsin, on 27 September 1932. He was the son of Sara Lucille (Dunn) and Scott Williamson, both of whom were high school teachers. Williamson attended Central High School in Superior. He received his BSc in management from the MIT Sloan School of Management in 1955. After graduating, he worked as a project engineer for General Electric, as well as the Central Intelligence Agency. Williamson received an MBA from Stanford University in 1960, and his PhD from Carnegie Mellon University in 1963. A student of Ronald Coase, Herbert A. Simon and Richard Cyert, he specializ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Institutional Economics
New Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the sociology, social and legal Norm (sociology), norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. Unlike neoclassical economics, it also considers the role of culture and classical political economy in economic development. The NIE assume that individuals are rational and that they seek to maximize their preferences, but that they also have cognitive limitations, lack complete information and have difficulties monitoring and enforcing agreements. As a result, institutions form in large part as an effective way to deal with Transaction cost, transaction costs. NIE rejects that the state is a neutral actor (rather, it can hinder or facilitate effective institutions), that there are zero transaction costs, and that actors have fixed preferences. Overview It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Cyert
Richard Michael Cyert (July 22, 1921 – October 7, 1998) was an American economist, statistician and organizational theorist, who served as the sixth Academic administration, President of Carnegie Mellon University in Pittsburgh, Pennsylvania, Pittsburgh, Pennsylvania, United States. He is known for his seminal 1959 work Behavioral theory of the firm, "''A behavioral theory of the firm''," co-authored with James G. March. Early life He was born in Winona, Minnesota and grew up in Minneapolis, Minnesota, Minneapolis. He received a Bachelor of Science, B.S. from the University of Minnesota in 1943, then joined the U.S. Navy. On the G.I. Bill he earned his Doctor of Philosophy, Ph.D. in economics from Columbia University following World War II. At Columbia, however, he became a specialist in statistics as well. He taught briefly at City College of New York, then took a position in Pittsburgh at Carnegie Institute of Technology in 1948 to teach statistics in accounting and auditing. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superior High School (Wisconsin)
Superior High School (SHS) is one of two high schools in Superior, Wisconsin, the other being Maranatha Academy. The School District of Superior opened SHS in 1965 as Superior Senior High School (SSHS) to replace East and Central High Schools. Those schools became middle schools, which were both closed and torn down in 2003. (An office building built on part of Central's site was completed in 2008 and a housing project was built on East's site, the last lot being developed in 2012). The high school serves about 1,600 students in grades 9–12 with a staff of around 150. SHS' mission is to "Provide all children with the relevant tools to develop a foundation for living, learning and working successfully." Academics Superior High School offers a wide selection of classes. Several selections in English, History/ Social Studies, Science, Mathematics, Foreign Language, Music, Physical Education, Business, Art, and Technical Education classes are available. Superior High School al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Sciences
Social science is one of the branches of science, devoted to the study of societies and the relationships among individuals within those societies. The term was formerly used to refer to the field of sociology, the original "science of society", established in the 19th century. In addition to sociology, it now encompasses a wide array of academic disciplines, including anthropology, archaeology, economics, human geography, linguistics, management science, communication science and political science. Positivist social scientists use methods resembling those of the natural sciences as tools for understanding society, and so define science in its stricter modern sense. Interpretivist social scientists, by contrast, may use social critique or symbolic interpretation rather than constructing empirically falsifiable theories, and thus treat science in its broader sense. In modern academic practice, researchers are often eclectic, using multiple methodologies (for instance, by c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theory Of The Firm
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards. Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself. As such major economic theories such as Transaction cost theory, Managerial economics and Behavioural theory of the firm will allow for an in-depth analysis on various firm and management types. Overview In simplified terms, the theory of the firm aims to answer these questions: # Existence. Why do firms emerge? Why are not all transactions in the economy mediated over the market? # Boundaries. Why is the boundary between firms and the market located exactly there in relation to size and output variety? ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Cost
In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. Oliver E. Williamson defines transaction costs as the costs of running an economic system of companies, and unlike production costs, decision-makers determine strategies of companies by measuring transaction costs and production costs. Transaction costs are the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. Therefore, the transaction cost is one of the most significant factors in business operation and management. Oliver E. Williamson's ''Transaction Cost Economics'' popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs, boost economic growth.North, Douglass C. 1992. “Transa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elinor Ostrom
Elinor Claire "Lin" Ostrom (née Awan; August 7, 1933 – June 12, 2012) was an American Political science, political scientist and Political economy, political economist whose work was associated with New institutional economics, New Institutional Economics and the resurgence of political economy. In 2009, she was awarded the Nobel Memorial Prize in Economic Sciences for her "analysis of economic governance, especially the commons", which she shared with Oliver E. Williamson. She was List of Nobel Memorial Prize laureates in Economics, the first woman to win the Nobel Prize in Economics. After graduating with a B.A. and Ph.D. in political science from UCLA, Ostrom lived in Bloomington, Indiana, Bloomington, Indiana, and served on the faculty of Indiana University Bloomington, Indiana University, with a late-career affiliation with Arizona State University. She was a Distinguished Professor at Indiana University and the Arthur F. Bentley Professor of Political Science and co-dire ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophy, philosophical theory, theories to the focused study of minutiae within specific Market (economics), markets, macroeconomics, macroeconomic analysis, microeconomics, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nobel Memorial Prize In Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered by the Nobel Foundation. Although not one of the five Nobel Prizes which were established by Alfred Nobel's will in 1895, it is commonly referred to as the Nobel Prize in Economics. The winners of the Nobel Memorial Prize in Economic Sciences are chosen in a similar way, are announced along with the Nobel Prize recipients, and the prize is presented at the Nobel Prize Award Ceremony. The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary. It is administered and referred to along with the Nobel Prizes by the Nobel Foundation. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Von Neumann Award
The John von Neumann Award ( hu, Neumann János-díj), named after John von Neumann, is given annually by the Rajk László College for Advanced Studies in Budapest, to an outstanding scholar in the exact social sciences, whose works have had substantial influence over a long period of time on the studies and intellectual activity of the students of the college. The award was established in 1994 and is given annually. In 2013, separately from the annual prize, Kenneth J. Arrow was given the Honorary John von Neumann Award. This award differentiates itself from other scientific awards on the basis that it is given by students of economics and various social sciences, decided after a long deliberation process. The students select the nominees and vote for the prize-winner in the Assembly of the College after a review and debate regarding the pre-selected names. 2011 recipient Joshua Angrist was subsequently awarded the Nobel Prize in Economics in 2021. Recipients SourceRajk Lás ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul L
Paul may refer to: *Paul (given name), a given name (includes a list of people with that name) *Paul (surname), a list of people People Christianity *Paul the Apostle (AD c.5–c.64/65), also known as Saul of Tarsus or Saint Paul, early Christian missionary and writer *Pope Paul (other), multiple Popes of the Roman Catholic Church *Saint Paul (other), multiple other people and locations named "Saint Paul" Roman and Byzantine empire *Lucius Aemilius Paullus Macedonicus (c. 229 BC – 160 BC), Roman general *Julius Paulus Prudentissimus (), Roman jurist *Paulus Catena (died 362), Roman notary *Paulus Alexandrinus (4th century), Hellenistic astrologer *Paul of Aegina or Paulus Aegineta (625–690), Greek surgeon Royals *Paul I of Russia (1754–1801), Tsar of Russia *Paul of Greece (1901–1964), King of Greece Other people *Paul the Deacon or Paulus Diaconus (c. 720 – c. 799), Italian Benedictine monk *Paul (father of Maurice), the father of Maurice, Byzan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John R
John R. (born John Richbourg, August 20, 1910 - February 15, 1986) was an American radio disc jockey who attained fame in the 1950s and 1960s for playing rhythm and blues music on Nashville radio station WLAC. He was also a notable record producer and artist manager. Richbourg was arguably the most popular and charismatic of the four announcers at WLAC who showcased popular African-American music in nightly programs from the late 1940s to the early 1970s. (The other three were Gene Nobles, Herman Grizzard, and Bill "Hoss" Allen.) Later rock music disc jockeys, such as Alan Freed and Wolfman Jack, mimicked Richbourg's practice of using speech that simulated African-American street language of the mid-twentieth century. Richbourg's highly stylized approach to on-air presentation of both music and advertising earned him popularity, but it also created identity confusion. Because Richbourg and fellow disc jockey Allen used African-American speech patterns, many listeners thought that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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