Ronald H. Coase, one of the most innovative and provocative economists of the twentieth century, has had a lasting influence in economics, law and economics, organization theory, management and political science. In this comprehensive Companion, 30 leading economists, social scientists and legal scholars, including two Nobel Laureates, offer the first global assessment of the initial impact of Coase's work and the continuing inspiration researchers and policy makers find in his contributions.The book presents a review of the continuing power of Coase's work including the reshaping of public policies, particularly with respect to public utilities and network industries. Further chapters explore research programmes that he initiated including the concept of transaction costs and the analysis of property rights, especially in terms of the regulation of the communications industry and the creation of markets for the right to pollute. The book clearly demonstrates the originality of Coase's work and the challenge it posed to conventional perspectives which has been a hallmark of his research throughout his life, from his initial view on the nature of the firm to his recent analysis of the development of capitalism in China. Less well-known features of Coase's research going beyond his famous papers on The Nature of the Firm and The Problem of Social Cost are also explored in detail.From economics to public policy, this complete and thorough assessment of Coase's vast contribution will be an invaluable reference to all interested in the many areas influenced by this great economist.
Contents:IntroductionClaude Menard and Elodie BertrandPART I: COASE IN CONTEXT 1. Ronald Coase: The Makings of an Iconoclast Mary M. Shirley 2. Coase and the London School of Economics in the 1920s-1940sJim Thomas3. The Transaction Cost Economics Project: Origins, Evolution, Utilization Oliver E. WilliamsonPART II: FOUNDATIONS: KEY CONCEPTS4. Coase's Theory of the Firm: The Next Steps Kenneth J. Arrow5. Revisiting Coase on Anticipations and the Cobweb ModelGeorge W. Evans and Roger Guesnerie 6. Coase's Contribution to Contract Theory Douglas W. Allen and Yoram Barzel7. Coase on Property Rights John N. Drobak8. Coasean Bargaining to Address Environmental ExternalitiesGary D. Libecap9. Coase on the Nature and Assessment of Social InstitutionsStephen PrattenPART III: FIRM AND ORGANIZATION THEORY10. The Holdup GameRichard R. W. Brooks11. The Employment Relation and Coase's Theory of the Firm Robert F. Freeland12. Managerial Authority in the Coasean Firm: An Entrepreneurial PerspectiveKirsten Foss, Nicolai J. Foss and Peter G. Klein 13. The Realistic Method of Ronald Coase: Lessons for Research on Mergers and AcquisitionsJ. Harold Mulherin14. Ronald H. Coase and the Economics of Network InfrastructureClaude MenardPART IV: MARKET: STRUCTURE AND REGULATIONThe Coase ConjectureFaruk Gul16. What do We Really Know About Durable Goods Monopolies? The Coase Conjecture in Economics and its Relevance for the Safety Razor IndustryJohn V.C. Nye17. Coase and Demsetz on Property Rights: The Case of Radio SpectrumThomas W. Hazlett18. Coase and the Regulation of Public Utilities John Groenewegen and Piet De Vries19. Coase and the Transaction Cost Approach to RegulationMarian W. Moszoro and Pablo T. Spiller20. Emerging Markets: What Can We Learn from Ronald CoaseNing WangPART V: LAW AND PROPERTY RIGHTS21. Ronald Coase and the Legal-Economic NexusSteven G. Medema22. Coase and the Departure from Property Benito Arrunada23. Coase's Empirical Studies: The Case of the LighthouseElodie Bertrand 24. Some Failures of the Popular Coase TheoremJoseph Farrell25. The Empirical Accuracy and Judicial Use of the Coase Theorem (Vel Non)Ward FarnsworthIndex
