To this point the discussion has examined
why firms, as we have defined
them, exist? That is, why is there an
owner-employer who is the common
party to contracts with other owners of
inputs in team activity? The answer to
that question should also indicate the kind
of the jointly used resources likely to be
owned by the central-owner-monitor and
the kind likely to be hired from people
who are not team-owners. Can we identify
characteristics or features of various inputs
that lead to their being hired or to
their being owned by the firm?