Question
Why does Coase reject the idea that firms emerge because of individuals' differing preference to boss or be bossed? Do you agree (Compare Knight's view)?
Why does Coase reject the idea that firms emerge because of individuals' differing preference to boss or be bossed? Do you agree (Compare Knight's view)? How does an employee's contract with a firm differ from a series of open market transactions among individuals?
R. Coase (1937) "The nature of the firm"Economica14 (16): 386-405
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Essentials of Econometrics
Authors: Damodar Gujarati, Dawn Porter
4th edition
73375845, 978-0071276078, 71276076, 978-0073375847
