The paper begins by providing a brief overview and discussion of the modern economics of organization, concentrating in particular on the work of incomplete contract theorists. I then turn to a discussion of Loasby’s view of the firm and incomplete contracts. The point here is that while...

We describe and discuss Ronald Coase's approach to managerial authority, placing it in the broader context of recent economics and management research on intrafirm coordination. To do so, we make use of work by Coase that is relatively little known, namely his writings on opportunity cost...