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- W2051276109 abstract "It is now half a century since Ronald Coase published his article “The Nature of the Firm” [l]. The paper has spawned important ideas in economics. However, the paper itself, as Coase observed later, has been “much cited but little used” [2, p. 631. Indeed, there exists no published commentary on the analytical structure of Coase’s theory of the firm. The reticence is at least a little odd because Coase’s theory of the firm appears rather different from the neoclassical theory of the firm. The Coasian firm is preoccupied with administering transactions, rather than with production as in the neoclassical theory. It minimizes the costs of carrying out transactions rather than maximizing profits. Its optimality margin is described in terms of transaction costs, rather than the marginal revenue and marginal production cost." @default.
- W2051276109 created "2016-06-24" @default.
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- W2051276109 date "1987-01-01" @default.
- W2051276109 modified "2023-10-01" @default.
- W2051276109 title "The coasian firm" @default.
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- W2051276109 doi "https://doi.org/10.1016/0090-5720(87)90024-6" @default.
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