What kind of economic activity is conducted through markets and what kind is conducted through firms? We approach this Coaseian question by way of an employment relation between players. Every player has an endowment of 100% of his time. He may choose to give away part of his time to other...

Compatibility influences business strategy and market structure and can itself be the outcome of market forces. This survey tries to summarise the field of compatibility with respect to business strategy. Two business strategy questions are the focus of survey. First, what kind of behaviour is...