Evidence item

Coase’s Nobel lecture links his 1937 firm article to the transaction-cost argument and explains that it later contributed to his Nobel recognition. DIRECT_TEXT

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 13251

Source: Ronald H. Coase – Prize Lecture · locator {} · excerpt hash sha256:1ea7fde3aac9903732ae560f03eccf2cc475ae6c80f57231d8ac2fa2dfe232ea

In my 1937 article, I argued ... a firm ... could only continue to exist if it performed its co-ordination function at a lower cost than would be incurred if it were achieved by means of market transactions. ... these ideas would become some 60 years later a major justification for the award of a Nobel Prize.