scholarly journals Adaptation, adjudication, and private ordering: Contractual Relations through the Williamson Lens

2021 ◽  
pp. 1-14
Author(s):  
Scott E. Masten
Keyword(s):  
Theory Of The Firm ◽  
Contract Design ◽  
Process Orientation ◽  
Private Ordering ◽  
Contractual Relations ◽  
Main Dimension

Abstract Williamson's legacy will be permanently, and deservedly, linked with the theory of the firm. As important, however, is his contribution to our understanding of contracting. My aim here is to describe Williamson's conception of contracting, how it differs from other approaches to contracting, and some implications of that approach for contract design and enforcement. I argue that Williamson's ‘process orientation’ – in which the main dimension along which contracts vary is the extent to which contract adjustments are effected through court ordering versus private ordering – provides alternative interpretations of some conventional contract terms but also sheds light on some otherwise puzzling contractual phenomena.

scholarly journals Private ordering of public processes: How contracts structure participatory processes in urban development in Amsterdam and Hamburg

Urban Studies ◽  
2021 ◽  
pp. 004209802110241
Author(s):  
Everardus Wilhelmus (Michiel) Stapper
Keyword(s):  
Urban Development ◽  
Urban Politics ◽  
Participatory Democracy ◽  
Government Agencies ◽  
Private Ordering ◽  
Public Meetings ◽  
Participatory Processes ◽  
Contractual Governance ◽  
Contractual Relations ◽  
Contractual Agreements

The use of contracts to achieve public goals has been gaining traction since the 1980s. In this article, I investigate the implications of the increased use of private law instruments for participatory democracy. This study starts with problematising the notion of contracts and proposes a conceptual model to study contractual relations in participatory processes. Next, through a detailed description of two case studies in Amsterdam and Hamburg, I show the consequences of contractual governance for participatory democracy in urban development. Namely, the interests of commercial parties and government agencies are incorporated in contracts, whereas the interests of residents are incorporated in non-legal agreements. This has four implications for our understanding of participatory democracy and urban politics. First, the arena of public decision making has shifted from public meetings to contractual negotiations. Second, contracts are not set in stone. Mobilisation by residents can influence, adjust and politicise agreements. However, third, residents need to be able to mobilise and negotiate. This creates new boundaries between residents who are able to make deals and those who are excluded. Lastly, investigating how contracts transform urban politics should take a broad view on how contractual relations are formed and focus on both non-legal and contractual agreements.

Vertical Restrictions: Development of Theory, Antitrust Legislation and Enforcement

2010 ◽  
pp. 110-122 ◽  
Author(s):  
S. Avdasheva ◽  
N. Dzagurova
Keyword(s):  
Institutional Theory ◽  
Institutional Economics ◽  
Theory Of The Firm ◽  
New Institutional Economics ◽  
Hierarchical Organization ◽  
Vertical Restraints ◽  
New Institutional Theory ◽  
Antitrust Laws ◽  
Antitrust Legislation ◽  
Market Organization

The article examines the interpretation of vertical restraints in Chicago, post-Chicago and New Institutional Economics approaches, as well as the reflection of these approaches in the application of antitrust laws. The main difference between neoclassical and new institutional analysis of vertical restraints is that the former compares the results of their use with market organization outcomes, and assesses mainly horizontal effects, while the latter focuses on the analysis of vertical effects, comparing the results of vertical restraints application with hierarchical organization. Accordingly, the evaluation of vertical restraints impact on competition differs radically. The approach of the New Institutional Theory of the firm seems fruitful for Russian markets.

Analysis of relations in the state sector of Russian public procurement

2018 ◽  
pp. 106-126
Author(s):  
O. V. Anchishkina
Keyword(s):  
Current Practice ◽  
Public Procurement ◽  
The State ◽  
Market Failures ◽  
Administrative System ◽  
State Sector ◽  
Contractual Relations ◽  
State Organizations ◽  
State Organization ◽  
Negative Factors

The paper deals with a special sector of public procurement — G2G, in which state organizations act as both customers and suppliers. The analysis shows the convergence between contractual and administrative relations and risks of transferring the negative factors, responsible for market failures, into the administrative system, as well as the changing nature of the state organization. Budget losses in the sector G2G are revealed and estimated. There are doubts, whether the current practice of substitution of market-based instruments for administrative requirements is able to maintain integrity of public procurement in the situation of growing strategic challenges. Measures are proposed for the adjustment and privatization of contractual relations.

The Economic Theory of the Firm: A Generalization

2012 ◽  
pp. 41-66 ◽  
Author(s):  
M. Storchevoy
Keyword(s):  
Economic Theory ◽  
General Theory ◽  
Contract Theory ◽  
Theory Of The Firm ◽  
Material Structure ◽  
Structural Factors ◽  
Boundaries Of The Firm ◽  
Opportunistic Behaviour ◽  
New Variant

The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of opportunistic behaviour determined by the material structure of production (a classification of ten structural factors is offered). This framework is applied to the analysis of three boundaries problems (boundaries of the job, boundaries of the unit, boundaries of the firm) and five integration dilemmas (vertical, horizontal, functional, related, and conglomerate).

Theory of the firm, Supply Chain management, and relationship marketing

2014 ◽  
pp. 40-60
Author(s):  
M. Storchevoy
Keyword(s):  
Economic Theory ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Relationship Marketing ◽  
Theory Of The Firm ◽  
Chain Management

The paper studies through the lens of the economic theory of the firm the development of two managerial disciplines: supply chain management and relationship marketing. The author demonstrates which ideas have been borrowed by these disciplines from the economic theory of the firm, and in what extent their implications may be useful for the latter.

FEATURES OF THE STRUCTURE AND SUBJECTIVE COMPOSITION OF CONTRACTUAL RELATIONS WITH THE PARTICIPATION OF JSC «SCIENTIFIC AND PRODUCTION CORPORATION «PRECISION INSTRUMENTATION SYSTEMS»

2020 ◽  
Vol 1 (6) ◽  
pp. 42-46
Author(s):  
S.V. DOROZHINSKY ◽  
Keyword(s):  
Public Procurement ◽  
Legal Regulation ◽  
The State ◽  
Regulatory Framework ◽  
Contractual Relations ◽  
Procurement System ◽  
State Defense

The article discusses the features of procurement in the framework of the state defense order by conducting trade procedures. The analysis shows that the regulatory framework for state defense orders includes both general acts for the entire public procurement system and special acts regulating relations specifically in the field of defense orders. The features of legal regulation in this sphere are determined, first of all, by the defense order specifics, but, primarily, this sphere as a whole is subject to the rules of legal regulation common to the sphere of public procurement.

ANALYSIS OF THE PROBLEMS OF THE IMPLEMENTATION OF STATE CONTRACTS FOR STATE DEFENSE ORDERS

2020 ◽  
Vol 2 (5) ◽  
pp. 89-92
Author(s):  
S.V. DOROZHINSKY ◽  
Keyword(s):  
Civil Law ◽  
Public Law ◽  
Similar System ◽  
Contractual Relations ◽  
State Defense

The article discusses the prospects of building a contract system in Russia in the field of state defense orders in the broadest sense – as a system of civil law contractual relations with direct and indirect participation of public law entities; building a model of a similar system, including its legal support.

Sign in / Sign up

Export Citation Format

Share Document