Coasean Economics Law and Economics and the New Institutional Economics

This collection assesses the development of 'Coasean Economics', those aspects of economic analysis that have evolved out of the work of Ronald Coase. Two major strands of research can be identified here: law and economics and the New Institutional Economics. While both law and economics and the analysis of institutions by no means originated with, or evolved solely from, Coase's work, it is undeniable that his contributions, particularly in "The Nature of the Firm" and "The Problem of Social Cost", played a major role in shaping the contemporary manifestations of these areas of inquiry. This volume focuses on the firm, the Coase theorem, and law and economics - those aspects of economic analysis with which Coase is most closely identified. Along with these come several essays on methodology and one on transitional economies, all against the underlying background of Coase's contributions and influence, and the implications of these for how we do economics. Taken together, this volume offers a unique perspective on 'Coasean Economics' as well as on the potential future direction of economic analysis.