Property Rights and the Nature of the Firm

Kirsten Foss () and Nicolai J. Foss ()
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Kirsten Foss: Norwegian School of Economics
Nicolai J. Foss: Copenhagen Business School

Chapter Chapter 7 in Economic Microfoundations of Strategic Management, 2022, pp 169-184 from Springer

Abstract: Abstract The firm represents one way to organize production, as Coase’s early (Economica NS4:386–405, 1937) analysis of the nature of the firm made clear. Coase pointed out that firms may save on the costs of discovering what the right prices are but did not explained this. Linking Coase’s work on firms to his work on opportunity costs, the process of discovering prices may be understood in terms of discovering the opportunity costs of different uses of assets. Firms that are low cost means of doing this.

Date: 2022
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DOI: 10.1007/978-3-031-12910-0_7

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