LEGACY OF RONALD COASE IN ECONOMIC ANALYSIS

Ronald Coase, the 1991 Nobel laureate in Economics, has had a profound impact on the way that economists and others view both the firm and the relationship between the legal and economic systems. This authoritative collection brings together the diverse body of literature that reflects Ronald Coase's influence on economic analysis from his early work on the theory of the firm and transaction costs to Coase's theorem and the development of the field of law and economics. The Legacy of Ronald Coase in Economic Analysis features the two seminal articles by Coase which have changed the way economists think about their subject -'The Nature of the Firm' and 'The Problem of Social Cost' - along with a group of the most important articles that have extended and built upon his work. These include contributions by James M. Buchanan, Benjamin Klein, Douglass C. North, Richard A. Posner and Oliver E. Williamson, as well as a specially-prepared, introduction to Coase's work and a comprehensive bibliography of Coase's writings.