Abstract

SALAZAR SILVA, Fernando  and  CUASPUD CALIZ, Alba Liliana. F. Hayek and R. Coase. Forms of Economic Coordination and Dispersed Knowledge: The Firm and the Market. Ens. Econ. [online]. 2017, vol.27, n.51, pp.151-162. ISSN 0121-117X.  https://doi.org/10.15446/ede.v27n51.69917.

This article presented does reference about coordination's mechanisms developed by F. Hayek and R. Coase. Hayek's position about that prices convey information and its implication in the efficient allocation of resources in a market economy and Coase's view in relation to minimizing of costs of transaction in a firm are only possible in existence of dispersed knowledge. Assuming the knowledge dispersed in both theoretical scenarios is a sign that the firm is not outside the market and that the market in general is not inefficient.

JEL: B2, B25, D21, D23, D80.

Keywords : firm; market; knowledge dispersed; prices; transaction costs.

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