... and stick solely to market-based contracts, when in fact a firm’s hierarchical organization is more cost-effective than market-based organizations, will simply be out-competed for resources ... Economica, vol. 4 (1937), pp. 38 6-4 05, reprinted in R. H. Coase, The Firm, the Market, and the Law (Chicago: University of Chicago Press, 1988), pp. 3 3-5 5. 2 Ibid., pp. 4 1-4 2. Chapter 6. Reasons ... Economy, vol. 73 (April 1963), pp. 11 0-1 20. 9 See Michael C. Jensen, “Eclipse of the Public Corporation,” Harvard Business Review (September-October 1989), pp. 6 4-6 5. Chapter 6. Reasons for Firm...