Abstract
There are two general approaches to the study of efficient labour organization. The one is in the neo-classical tradition which emphasizes incentives, efficient risk-bearing, factor proportion distortions, and the like. The second has more recent origins. It emphasizes the contracting process and the transaction costs that are associated therewith. A comparative institutional assessment of alternative governance structures is attempted, the object being to align the attributes of transactions with those of governance structures in a discriminating (mainly transactions costs economizing) way.
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© 1984 Frank H. Stephen
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Williamson, O.E. (1984). Efficient Labour Organization. In: Stephen, F.H. (eds) Firms, Organization and Labour. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06663-6_6
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DOI: https://doi.org/10.1007/978-1-349-06663-6_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06665-0
Online ISBN: 978-1-349-06663-6
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