Year: 2020
Type: article
Abstract: Oliver Williamson’s contributions to many subfields of economics are salutary. However, he was recognized by the Nobel Laureate Committee primarily for his work on the boundaries (scale and scope) of the firm. This tribute endeavors to marry Williamson’s transaction cost economics with a capabilities framework to obtain new insights into how the scope and scale of technology companies influence their competitive performance in today’s digital economy. The role of big data and learning are highlighted. Strong implications for competition policy, and for management, emerge from the fusion of the two frameworks. Such fusion yields a more granular view of management and policy issues but requires the policy analyst to understand not just industrial economics but also the technology management literature which also has useful insights for competition policy and regulatory professionals.
Source: Industrial and Corporate Change
DOI: 10.1093/icc/dtaa043
Author: David J Teece
Institution: University of California, Berkeley
Language: English
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $4,299
OpenAlex ID: W3130423957