kaal:claim:3249860-004

Decentralized solutions can challenge the basic assumptions of the theory of the firm, because the role of the firm changes if decentralized technology lowers the cost of using markets exponentially.

Source quote, verbatim

Decentralized solutions for human interaction can challenge the basic assumptions of the theory of the firm. In other words, the role of the firm may change if decentralized solutions help lower the cost of using markets exponentially.

From

Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018), II.2 Challenging the Theory of the Firm, p. 6
https://ssrn.com/abstract=3249860 · source PDF

Cite as

Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860

Holds when

if decentralized solutions actually lower transaction costs for a significant portion of market transactions

Classification

mechanismsupport: arguedeconomicsdecentralization

Related claims

extended_by kaal:claim:3441904-011 Inexpensive open source smart contracts eliminate a major motivation for creating a firm under Coase's transac...

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