Calculativeness, trust, and economic organization¶
Williamson, O. E. (1993). Calculativeness, trust, and economic organization. Journal of Law and Economics, 453-486.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Trust
- The cost of low-trust is often the institutional overhead required to substitute for trust—a substitution Williamson (1993) analyzes as the calculative governance structures that economic organization deploys when interpersonal trust is unreliable or absent.
This sourceArgues that calculative governance structures—contracts, hostages, hierarchy—are the institutional substitutes economic organization deploys when interpersonal trust is unreliable, making the cost of low trust visible as transaction-cost overhead.
- The cost of low-trust is often the institutional overhead required to substitute for trust—a substitution Williamson (1993) analyzes as the calculative governance structures that economic organization deploys when interpersonal trust is unreliable or absent.
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