Coase, Ronald Harry kōz [key]
, 1910–2013, British economist, b. London, Ph.D. Univ. of London, 1951. He was raised and educated in England before coming to the United States, where he was a professor at the Univ. of Buffalo (1951–58), the Univ. of Virginia (1958–64), and the Univ. of Chicago Law School (1964–1981, emeritus from 1982). A pioneer in the field of transaction cost economics, he studied the ways in which legal rules affect economic behavior. He won the 1991 Nobel Memorial Prize in Economic Sciences and wrote the influential essays
The Nature of the Firm
The Problem of Social Cost
See studies by T. North (1992), S. G. Medema (1994) and as ed. (2 vol., 1995), L. W. C. Lai (2011), and R. A. Posner and F. Parisi, ed. (2 vol., 2013).
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