The governance and transaction cost insights of Oliver Williamson (1975, 1985, 1996, 2010) and Ronald Coase (1937, 1992) have framed antitrust polices and firm management strategies. Transaction cost economics explain efficient governance adaptation. With a focus on private efficiency gains...

Urban labor markets that are characterized by the absence of ineffectiveness of regulation by bureaucratic institutions can nonetheless be subject of powerful institutional forces based on customary norms, group cohesion, kinship, and social networks. Using insights derived from the New...