This overview of transaction cost economics is organized around the "Carnegie Tripleʺ be disciplined; be interdisciplinary; have an active mind. The first of these urges those who would open up the black box of economic organization to do so in a modest, slow, molecular, definitive way, with the...

Interview with the 2009 Laureates in Economic Sciences Elinor Ostrom and Oliver E. Williamson, 6 December 2009. The interviewer is Adam Smith, Editor-in-Chief of Nobelprize.org.