Abstract This is a personal reflection from my experience meeting Ronald H. Coase in October 2012 for a 2-day interview together with Ning Wang. Our interview was one of the world’s last glimpses of Coase’s life and contributions, and one that conveys Coase’s contributions as both a true...

Abstract When policymakers are uncertain about the private costs of pollution abatement, using simple auctions that jointly determine the price and quantity of pollution permits enables them to set precisely the quantity of pollution they would choose if they knew abatement costs perfectly....

Abstract This paper suggests that there exists a neglected third branch of Chicago price theory, which includes Armen Alchian (1914–2013), James Buchanan (1919–2013), and Ronald Coase (1910–2013). While this branch shares characteristics that are common to the other branches of Chicago...

Abstract What did Coase teach in the classroom? Coase’s articles reprinted in The Firm, the Market, and the Law make up 4 of 11 articles assigned in Coase’s 1972 course on “Economic Analysis and Public Policy.” This article reconstructs Coase’s 1972 syllabus, describes Coase as a...

Abstract This paper will attempt to explain how Coase, from his earliest important paper, “The Nature of the Firm,” transformed his interest from firm organization, determined by transaction costs, to the influence of firm choices and individual choices – collectively, the market – on...