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1、TheNatureoftheFirm:MeaningAuthor(s):R.H.CoaseSource:JournalofLaw,Economics,&Organization,Vol.4,No.1(Spring,1988),pp.19-32Publishedby:OxfordUniversityPressStableURL:http://www.jstor.org/stable/765012Accessed:28-09-201518:03UTCYouruseoftheJSTORarchiveindicatesyouracceptanceofthe
2、Terms&ConditionsofUse,availableathttp://www.jstor.org/page/info/about/policies/terms.jspJSTORisanot-for-profitservicethathelpsscholars,researchers,andstudentsdiscover,use,andbuilduponawiderangeofcontentinatrusteddigitalarchive.Weuseinformationtechnologyandtoolstoincreaseproduc
3、tivityandfacilitatenewformsofscholarship.FormoreinformationaboutJSTOR,pleasecontactsupport@jstor.org.OxfordUniversityPressiscollaboratingwithJSTORtodigitize,preserveandextendaccesstoJournalofLaw,Economics,&Organization.http://www.jstor.orgThiscontentdownloadedfrom120.236.167.1
4、72onMon,28Sep201518:03:39UTCAllusesubjecttoJSTORTermsandConditions2.TheNatureoftheFirm:MeaningR.H.COASEUniversityofChicagoThesolutiontothepuzzlesthatItookwithmetoAmericawas,asitturnedout,verysimple.Allthatwasneededwastorecognizethattherewerecostsofcarryingoutmarkettransactions
5、andtoincorporatethemintotheanalysis,somethingwhicheconomistshadfailedtodo.Afirmhadthereforearoletoplayintheeconomicsystemifitwerepossiblefortransactionstobeorgan-izedwithinthefirmatlesscostthanwouldbeincurredifthesametrans-actionswerecarriedoutthroughthemarket.Thelimittothesiz
6、eofthefirmwouldbesetwhenthescopeofitsoperationshadexpandedtothepointatwhichthecostsoforganizingadditionaltransactionswithinthefirmex-ceededthecostsofcarryingoutthesametransactionsthroughthemarketorinanotherfirm.Thisstatementhasbeencalleda"tautology."Itisthecriticismpeoplemakeo
7、fapropositionwhichisclearlyright.Itwasofcourseobvioustomethattheexpositioninmylectureof1932neededelaboration,andinalettertoFowlerwrittenshortlyafterIhadgivenit,IindicatedthatthiswaswhatIwantedtodo.Icompletedadraftof"TheNatureoftheFirm"byearlysummerin1934,whileIwasstillatDundee
8、.UnfortunatelyIdonotpossessacopyofthisdraft.However,veryfewch
