Coase think firm and market are substitutive institution. Firm and market are all contracts, and people's cooperative relationship. Especially in the situation of Vertical Integration, firms and market are substitutive.
* Ronald H. Coase, "The Nature of the Firm," Economica NS 4, no. 16 (November 1937): 386-405.
* Ronald H. Coase, "The Institutional Structure of Production," American Economic Review 82, no 4 (September 1992): 713-19.
Ronald H. Coase, "The Nature of the Firm: Meaning," Journal of Law, Economics, and Organization 4, no. 1 (Spring 1988): 19-32.
Ronald H. Coase, "The Nature of the Firm: Influence," Journal of Law, Economics, and Organization 4, no. 1 (Spring 1988): 33-47.
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