Mancur Olson vs Oliver Williamson

Mancur Olson was an American economist and social scientist who lived from 1932 to 1998. He is most famous for his 1965 book, "The Logic of Collective Action," which fundamentally challenged the assumption that groups of individuals with shared interests will naturally act collectively to achieve them. Instead, Olson demonstrated that rational individuals often free-ride on the efforts of others u...

Oliver E. Williamson was an American economist whose work explained how firms, contracts, and markets organize economic transactions. He received the 2009 Nobel Memorial Prize in Economic Sciences, shared with Elinor Ostrom, for analysis of economic governance, especially the boundaries of the firm. His transaction-cost approach examines why activities are sometimes coordinated within organization...