The (AI) Nature of the Firm

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In 1937, Ronald Coase sought to answer the question: why do humans organise themselves into collectives for economic decision-making? The resulting paper, The Nature of the Firm , is one of the seminal works in organizational decision-making and management theory. The core idea is that humans, bounded by both their physical limitations and by their ability to aggregate information, finance, and resources - are requi…

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