Williamson’s Model of Managerial Discretion
Introduction The model of the managerial theory of the firm presented by Oliver E. Williamson is known as Williamson’s Model of Managerial Discretion. This model was developed by Williamson in 1963 in his article ‘Managerial Discretion and Business Behaviour’ published in ‘American Economic Review’.Williamson argues that managers are motivated by their self-interest and they try […]
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