Wednesday, May 27, 2020

R.I.P., Oliver Williamson

I just learned from Danny Sokol's Antitrust & Competition Policy Blog that Oliver Williamson died last week at the age of 87.  Williamson and Elinor Ostrom were the recipients of the 2009 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.  Williamson is best known for his contributions to the economics of the firm and of transaction costs, and the application of his analysis of the holdup phenomenon is a centerpiece of contemporary debates in patent law (see, e.g., my article with Erik Hovenkamp and Norman Siebrasse here).  There is an obituary in yesterday's Washington Post and a notice from UC Berkeley.  

Nobel Prize 2009-Press Conference KVA-42.jpg

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