The Nature of the Firm - Wikipedia, the free encyclopedia - 0 views
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Coase's analysis proceeds by considering the conditions under which it makes sense for an entrepreneur to seek hired help instead of contracting out for some particular task
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because the market is "efficient" (that is, those who are best at providing each good or service most cheaply are already doing so), it should always be cheaper to contract out than to hire
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Coase noted, however, that there are a number of transaction costs to using the market
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