Nobel prize winner Oliver E. Williamson is coming to Slovakia

American professor Oliver E. Williamson was born on 27 September 1932 in Wisconsin. At present he is regarded as one of the most influential scholars in the field of economic organisations and institutions. He is the author of many studies on transaction cost economics. In 2009 he received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the so-called Nobel Prize in Economics.

In Bratislava we will have the chance to hear his lecture on Wednesday 5 October at 2 pm in the assembly hall of the University of Economics in Bratislava. The theme of the lecture is transaction cost economics: Origin and obstacles, applications and challenges". In his address he will look chiefly at the influence of transaction costs on the behaviour of economic entities and the whole economy.

On the occasion, a press conference will be prepared on the day of the Professor's visit. It starts at 9.30 am, in the traditional venue of the assembly hall of the University of Economics in Bratislava.

"It is an honour for us that Professor Williamson accepted our invitation. As an innovative bank, we support live discussions that resound long afterwards as an inspiration for the listeners. All the lectures of Nobel prize winners have met with massive interest of students, which is proof that in Slovakia there is still a healthy interest in science," noted Igor Vida, General Director of Tatra banka and Chairman of the Management Board of the foundation Nadácia Tatra banky.

The lecture will take place at the University of Economics in Bratislava. University rector Rudolf Sivák emphasises chiefly the topicality of the contribution of Professor Williamson to the economy in relation to current problems in the European and world economies: "It is a pleasure for me that the university of Economics in Bratislava now traditionally opens the academic year with a lecture from the holder of the Nobel Memorial Prize for Economic Sciences. This year we have the honour of welcoming Professor Oliver E. Williamson, one of the most cited world economists and probably the most important economist to deal in recent decades with the issue of economic organisations and institutions.

His theory makes it possible to "examine" in a new way issues such as the formation of corporate financial structure, policies aimed at supporting competition, the issue of deregulation, the optimum size and range of activities of companies, as well as how current political systems work. According to one of his key thoughts, the ability of human beings to make truly informed decisions is limited. This is particularly important nowadays, when many are relying on various political decisions to resolve the global economic and debt crisis. We are glad that at the University of Economics in Bratislava this lecture will contribute to discussion on looking for suitable ways out of the situation in which current economies find themselves."

The lecture of Professor Williamson is further continuation of the programme Nobel Prize Lecture Series, the aim of which is to give students and the professional community the chance to come face to face with a Nobel prize laureate for economics. So far you have had the opportunity to meet Robert J. Aumann (2008), Edward C. Prescott (2009), Robert A. Mundell (2010) and Edmund S. Phelps (2010).

"Together with our partners Nadácia Tatra banky and the University of Economics, we try to mediate meetings for Slovak students with leading world experts. Our common goal is to support science and education in Slovakia with special emphasis on young talents. We believe that the lecture of Professor Williamson will enjoy great interest of students and the professional community," said member of the Organisational committee, Dr. Urban Kováč from Virtual Scientific Laboratories.

The lecture is organised by the civil association Virtual Scientific Laboratories, the University of Economics in Bratislava and Nadácia Tatra banky.

Organisational details:

• You must enrol for the lecture in advance at http://www.euba.sk/sk/oliver-williamson/
• You must be seated at least 30 minutes before the start of the lecture.
• The lecture will be broadcast live to premises of the university.

The life and work of Oliver E. Williamson

Professor Oliver Eaton Williamson was born on 27. 9. 1932 in the State of Wisconsin. After studying at the Massachusetts Institute of Technology in 1955 he continued as a bachelor student at Stanford University, where in 1960 he received an MBA and in 1963 at Carnegie Mellon University he defended his PhD. In the period from 1965 - 1968 he taught economics at the University of California, Berkeley, and the University of Pennsylvania. He was a professor of economics and social sciences at the same university between 1968 and 1983. From 1983 he was a Gordon Tweedy Professor of Economics of Law and Organisation at Yale University for five years. Since 1988 to the present day Oliver Williamson is a professor emeritus of business administration, economics and law at University of California, Berkeley. Professor Williams is a member of the National Academy of Sciences, a distinguished fellow of the American Academy of Arts and Sciences and the Econometric Society. He is the holder of 12 honorary doctorates. Over his university career he has been Fulbright professor, a Guggenheim fellow and a fellow at the Center for Advanced Study in the Behavioural Sciences. He is a renowned American senior scientist. In 1988 he received the Irwin award for Scholarly Contributions To Management, in 2004 he received the H. C. Recktenwald Prize in Economics and then in 2007 he was appointed a distinguished fellow of the American Economic Association. In 2009 he was awarded the Nobel Memorial Prize for Economic Sciences. Professor Williamson is an honorary founding publisher of the magazines Journal of Law and Economics and organization. He has also bee President of the Western Economic Association and the International society for New institutional economics. Professor Williamson has published a total of 6 books and 140 scientific and professional papers in leading foreign scientific and expert magazines. His book The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting is the most frequently cited work in social science research.

Nadácia Tatra banky

Nadácia Tatra banky is a prestigious philanthropic institution which by way of programmes and grants provides inspiring moments, meetings with unique distinguished figures, supports the best students and creates an attractive opportunity for increasing the quality of education.

The main ambition of Nadácia Tatra banky is to increase the standard of education and to provide space to the best so that they can advance even further. In addition to supporting education, the activities of the foundation focus also on promoting art and the restoration of cultural monuments.

Programmes of Nadácia Tatra banky

One of the programmes Nadácia Tatra banky aimed at supporting education is the programme called Personalities in Person, which by way of renowned world scientific figures brings to Slovakia the latest observations in the field of economics and related sciences. By way of this programme Slovakia has already welcomed four Nobel prize winners in economics, Robert J. Aumann, Edward C. Prescott, Robert A. Mundell and Edmund S. Phelps and tens of other world scientific figures. Other activities of Nadácia Tatra banky include the Nadácia Tatra banky grants, the Nadácia Tatra banky awards (Nadácia Tatra banky Prize for Best Diploma Thesis, Nadácia Tatra banky Prize for Art), Good education, Better chances, the programme of Partnership in regions, the employee programme Dobré srdce^TB.

Since 2009 a total of nine new publications from the publisher of the oldest American university, Harvard Business School Press, have progressively found their way to bookshops as part of the Nadácia Tatra banky Edition. Nadácia Tatra banky in association with partners of the project, the publishers Eastone books and the economic weekly Trend, have therefore brought some unique titles to students and teachers of Slovak universities in a Slovak translation for the first time.

For more information go to www.nadaciatatrabanky.sk

Contact:

Milada Halová
Manager of foundation and Sponsoring
milada_halova@tatrabanka.sk
Tatra banka

Marína Smolková
Media relations manager
marina_smolkova@tatrabanka.sk
Tatra banka