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Transaction cost economics has and continues to be a fruitful area of research. There is still much to be done in the field with past research being used in conjunction with the vast number of contractual phenomena that have yet to be investigated in transaction cost economics terms. New challenges are posed by the need to move beyond the design of new contractual instruments (such as financial derivatives) to include an examination of the lurking hazards that attend contract implementation. Edited by a leading authority in the field, this important collection brings together Professor Williamson's key papers on transaction cost economics. It will be of benefit to academics, scholars and practitioners with an interest in this progressive subject.