DEFINITION of 'Oliver E. Williamson'
An American economist, the recipient of the 2009 Nobel Prize in Economics, along with Elinor Ostrom, "for his analysis of economic governance, especially the boundaries of the firm," and professor emeritus of business, economics and law at the University of California, Berkeley. Williamson has been a groundbreaking researcher in organizational economics and transaction-cost economics.
BREAKING DOWN 'Oliver E. Williamson'
Born in Wisconsin in 1932, Williamson has also taught at the University of Pennsylvania and Yale. He holds an MBA from Stanford and a Ph.D. in economics from Carnegie Mellon. He has received numerous awards, honors and fellowships. Williamson also invented the term "information impactedness."