2010/02/01 by Pablo T. Spiller
Business, Management and Accounting · #Regulation and Compliance Studies
paper · doi:10.1525/cmr.2010.52.2.147
This essay explores the immense impact of Oliver Williamson's writings and thoughts on contracting and organizations to research on the economics of regulation. Based on Williamson's transaction cost economics approach, this essay discusses the fundamental hazards inherent in government/utility-investors' interactions and explores how these hazards affect the way regulation is developed and the institutional environment within which these interactions take place.