Die ökonomischen Institutionen des Kapitalismus

It is Oliver E. Williamson's theory that people behave rationally to a limited extent only and tend to act in their own interests. He shows how post-contractual problems can arise within the framework of relationship-specific dealings, which are subject to a great deal of environmental uncertainty and require specific investments. In order to cope with these problems, capitalist economic systems provide numerous institutions and coordination mechanisms whose efficiency is examined.
Williamson studies economic transactions from an economic, legal and organizational perspective. He differentiates between the individual frequency. In doing so, he assigns the most efficient, i.e. the most cost-effective form of coordination to each type of transaction. The structuring, the monitoring of corporations and issues in antitrust law) as well as highly significant empirical evidence attest to its practical importance.