kaal:claim:6421319-017

The Williamsonian justification for hierarchical governance evaporates when hyper rational agents can write and execute complete state contingent contracts at negligible cost, because the firm was an institutional response to the scarcity of human cognition.

Source quote, verbatim

When hyper-rational agents can write and execute complete state-contingent contracts at negligible cost, the Williamsonian justification for hierarchical governance evaporates.

From

Wulf A. Kaal, The Collapse of Scarcity Economics (2026), IV.B. Williamson's Authority Relation Without Cognitive Justification, p. 18
https://ssrn.com/abstract=6421319 · source PDF

Cite as

Wulf A. Kaal, The Collapse of Scarcity Economics (2026). SSRN: https://ssrn.com/abstract=6421319

Holds when

conditional on unbounded machine rationality and negligible contracting cost

Classification

failuresupport: arguedfailure: Hierarchy Without Cognitive Justificationfamily: human-judgment-displacementeconomicsinstitutional-design

Related claims

extends kaal:claim:5886442-017 When hyper rational agents can write and execute complete state contingent contracts at negligible cost, the W...

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