For his discovery and clarification of the significance of transaction costs
and property rights for the institutional structure and functioning of
the economy, Ronald Coase received the Alfred Nobel Memorial Prize
in Economic Sciences in 1991.
Professor Coase was Clifton R. Musser Professor Emeritus
of Economics at the University of Chicago Law School. He was
affiliated with the University of Chicago from 1964 on. Earlier he served
on the faculty of the Dundee School of Economics and Commerce
(1932-1934), the University of Liverpool (1934-1935),the London
School of Economics (1935-1951), the University of Buffalo (1951-1958),
and the University of Virginia (1958-1964).
He was editor of the Journal of Law and Economics (1964-1982).
He was the founding president of the International Society for
New Institutional Economics (1996-97). He was the research advisor
to the Ronald Coase Institute.
"As I see it, progress in understanding the working of the economic
system will come from an interplay between theory and empirical
work. The theory suggests what empirical work might be fruitful,
the subsequent empirical work suggests what modification in the
theory or rethinking is needed, which in turn leads to new empirical
work. If rightly done, scientific research is a never-ending process,
but one that leads to greater understanding at each stage."
- The Conduct of Economics: The Example
of Fisher Body and General Motors, 2006
See compilation of online materials
by and about Ronald Coase
described by an eminent legal scholar as
"a terrific set of links."
List of Publications
Interview about NIE, 1997
Speech to ISNIE, 1999
Why Economics Will Change, 2002
Meeting Ronald Coase, 2006
Videos for Ronald Coase from Alumni