Williamson, Oliver Eaton

Williamson, Oliver Eaton,

1932–2020, American economist, b. Superior, Wis., Ph.D. Carnegie-Mellon Univ., 1963. He served on the faculties of Univ. of California, Berkeley (1963–65, 1988–2004, emeritus from 2004), the Univ. of Pennsylvania (1965–83), and Yale (1983–88). Inspired by the earlier work of Ronald CoaseCoase, Ronald Harry
, 1910–2013, British economist, b. London, Ph.D. Univ. of London, 1951. He was raised and educated in England before coming to the United States, where he was a professor at the Univ. of Buffalo (1951–58), the Univ.
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, Williamson compared the economic workings of markets and nonmarkets, such as business firms and other hierarchical organizations, contrasting their benefits and drawbacks, and developing a theory concerning how companies promote conflict resolution in situations involving limited competition. He shared the Nobel Memorial Prize in Economic Sciences with Elinor OstromOstrom, Elinor Awan,
1933–2012, American political economist, b. Los Angeles, Ph.D. Univ. of California, Los Angeles, 1965. She was on the faculty of the Univ. of Indiana, Bloomington, from 1965 until her death, and was also a research professor at Arizona State Univ.
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 in 2009 for his work. His works include Markets and Hierarchies (1975) and The Economic Institutions of Capitalism (1985).
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