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Transakčné náklady, vlastnícke práva a externality - k vedeckému odkazu R. H. Coasea
[Transaction Costs, Property Rights and Externalities - on the Contribution of R. H. Coase to Economic]

Author

Listed:
  • Anetta Čaplánová
  • Marcel Novák

Abstract

The paper discusses the contribution of R. H. Coase to economics and his role as a founder of the new institutional economics. Coase also contributed to the establishment of Law and Economics as a discipline, he is the author of the transaction cost theory and of the Coase Theorem. The paper discusses main aspects of his theory and his core theoretical contributions including more recent ones as well as their impact on the development of the economic theory and economic policy. The role of transaction costs, well established property rights, the institutional framework and the need to relate economic analysis to the real economic development and to overcome the isolation of the formal economic analysis are identifi ed as crucial contributions of Coase to economics relevant for the current stage of the development of economics and economic systems.

Suggested Citation

  • Anetta Čaplánová & Marcel Novák, 2015. "Transakčné náklady, vlastnícke práva a externality - k vedeckému odkazu R. H. Coasea [Transaction Costs, Property Rights and Externalities - on the Contribution of R. H. Coase to Economic]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(2), pages 244-257.
    • Handle: RePEc:prg:jnlpol:v:2015:y:2015:i:2:id:999:p:244-257
    DOI: 10.18267/j.polek.999
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    References listed on IDEAS

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    1. Ronald H. Coase, 2008. "The Institutional Structure of Production," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 2, pages 31-39, Springer.
    2. Douglass C. North, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter.
    3. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    4. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    5. Coase, R H, 1993. "Law and Economics at Chicago," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 239-254, April.
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    7. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
    8. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-376, October.
    9. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
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    More about this item

    Keywords

    new institutional economics; law and economics; public goods; Ronald Coase; transaction cost; social cost; externalities; Coase theorem;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B32 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Obituaries

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