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 is currently Clifton R. Musser Professor Emeritus
of Economics at the University of Chicago Law School. He has been
affiliated with the University of Chicago since 1964. 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 is 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

ALSO SEE
  Interview about NIE
  Speech to ISNIE
  Why Economics Will Change
  Curriculum Vitae
  Publications
  Translations
  Online Material
  Images
  Meeting Coase in 2006