Jacobsen, Lowell R.; Blair, Roger D.; Lafontaine, Francine - In: Managerial and Decision Economics 36 (2015) 1, pp. 33-43
Ronald Coase viewed transaction cost minimization as a central goal of contracting and organizational decisions. We discuss how a solution to the traditional successive monopoly problem that has not been discussed in the literature can economize on such costs. Specifically, we show that when we...