Ronald Harry Coase (; 29 December 1910 – 2 September 2013) was a British economist and author. Coase was educated at the London School of Economics, where he was a member of the faculty until 1951. He was the Clifton R. Musser Professor of Economics...
The Coase theorem () postulates the economic efficiency of an economic allocation or outcome in the presence of externalities. The theorem is significant because, if true, it would be possible for private individuals to make choices that can solve...
"The Nature of the Firm" (1937) is an article by Ronald Coase published in the economics journal Economica. It offered an economic explanation of why individuals choose to form partnerships, companies, and other business entities rather than trading...
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are...
The Coase conjecture, developed first by Ronald Coase, is an argument in monopoly theory. The conjecture sets up a situation in which a monopolist sells a durable good to a market where resale is impossible and faces consumers who have different...
"The Problem of Social Cost" (1960) is a law review article by Ronald Coase, then a faculty member at the University of Virginia, dealing with the economic problem of externalities. It draws from a number of English legal cases and statutes to...
"The Lighthouse in Economics" is a 1974 academic paper written by British economist Ronald H. Coase, the 1991 recipient of the Nobel Memorial Prize in Economic Sciences. This paper challenges the traditional view in economics that lighthouses are...
New Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier...
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of legal rules and institutions. The field emerged in the United States in the early 1960s, primarily through the work of scholars from the...
Steven Ng-Sheong Cheung ( CHUNG; born December 1, 1935) is a Hong Kong-born American economist who specializes in the fields of transaction costs and property rights, following the approach of new institutional economics. He achieved his public fame...