What does this research mean for the field?

The classic economic distinction between firms and markets should be retired to advance research on organized interactions across organizational boundaries and the coalitional nature of entrepreneurial power. Novelty: ClaimNovelty.CONTRADICTORY. Consensus alignment: ConsensusAlignment.CHALLENGES_CONSENSUS.

What question did this study set out to answer?

To reevaluate Ronald Coase's foundational firm-versus-market distinction and propose an updated framework for modeling equilibrium formation across and within organizations.

September 8, 2026EconomicaOpen Access

From Coase to culture? Visible Hands Build Equilibria

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Authors

RGRobert GibbonsMoscow Institute of Thermal Technology

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Implication

Conceptual analysis proposes retiring the strict firm-market dichotomy in organizational economics, highlighting organizational culture to explain how coalitions build economic equilibria.

Key Points

To reevaluate Ronald Coase's foundational firm-versus-market distinction and propose an updated framework for modeling equilibrium formation across and within organizations.
Conducted a theoretical synthesis of Ronald Coase's 1937 treatise on the nature of the firm.
Integrated microeconomic boundary analysis with sociological perspectives on organizational culture and entrepreneurial power.
Argued for expanding organizational economics to formally investigate economic interactions that are organized outside single corporate entities.
Proposed reframing entrepreneurial conscious power as a coalitional mechanism to explain how parties deliberately construct stable equilibria.

Cite This Study

Robert Gibbons (2026) studied this question.

synapsesocial.com/papers/6a9fd7ab58e84d0ff5b4682d https://doi.org/10.1111/ecca.70071

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Implication

Conceptual analysis proposes retiring the strict firm-market dichotomy in organizational economics, highlighting organizational culture to explain how coalitions build economic equilibria.

From Coase to culture? Visible Hands Build Equilibria

Discussion

Member takes

Implication

Key Points

Cite This Study

From Coase to culture? Visible Hands Build Equilibria

Discussion

Member takes

Implication

Key Points

Cite This Study

Also Consider

Also Consider