EARLIER this week Ronald Coase, a winner of the economics Nobel and one of the most important economists of the past century, died at 102. This week's Free exchange column looks at his life and ...

Ronald Coase, winner of the 1991 Nobel Memorial Prize in Economics, died in September at age 102. Thomas Hazlett interviewed Coase in our January 1997 issue. In the introduction, Hazlett explained ...

Theme of the Lecture: when can institutions not improve efficiency? When can we not improve upon market outcomes? Coase Theorem: Efficiency and Bargaining -- closely related to value maximization.

Coase's most famous contribution is the Coase Theorem, which holds that the problem of externalities—that is, me taking an action that imposes a cost on you—can be fixed without government action so ...

There's a famous joke about a dairy farmer who, hoping to increase milk production, seeks the help of a theoretical physicist at the local university. After carefully studying the problem, the ...

“I HAVE made no innovations in high theory,” was how Ronald Coase modestly summed up his life’s work. “My contribution to economics has been to urge the inclusion…of features of the economic system so ...