I’ve talked about the need for establishing guiding principles—or social norms—for negotiating and operating strategic contract relationships but . It’s important that the norms embodied in the “what’s in it for we?” contract negotiation process be firmly embedded throughout the organization, or else new and existing relationships will struggle. Everyone should be on the same […]
social norms
Douglass North – A Lasting Legacy of New Institutional Economics
Douglass C. North, a Nobel laureate famed for his groundbreaking work on “new institutional economics,” died on November 23. He was 95. North – a professor, economist, philosopher, and economic historian – was the co-recipient (with Robert Fogel) of the 1993 Nobel Prize in Economic Sciences “for having renewed research in economic history by applying […]
