Assertion: firm's market | /r/HasProperty | efficient
Facets:
value: the way coase sees
type: MANNER
value: in its resource allocation
type: OTHER
Source sentences:
text: The traditional economic theory of the time suggested that, because the market is "efficient" (that is, those who are best at providing each good or service most cheaply are already doing so), it should always be cheaper to contract out than to hire.
text: The way Coase sees it, the market is efficient in its resource allocation, but it is very costly to bring about this efficient allocation due to frictions such as search and marketing costs and negotiations over contract terms.