Abstract
Ronald Coase made seminal contributions to law and economics and to the theory of the firm, for which he received the 1991 Nobel Prize. The importance of understanding the role of transaction costs in economic activity and the influence of alternative institutional structures on economic performance are hallmarks of Coase’s scholarship, and both the economic analysis of law and the new institutional economics are outgrowths of his work. Coase occupies a significant although somewhat controversial place in the history of the Chicago School of economics.
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Medema, S.G. (2018). Coase, Ronald Harry (Born 1910). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_70
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DOI: https://doi.org/10.1057/978-1-349-95189-5_70
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