IDEAS home Printed from https://ideas.repec.org/a/bpj/maneco/v1y2014i2p15n3.html
   My bibliography  Save this article

Ronald Coase, Firms and Markets

Author

Listed:
  • Priest George L.

    (Yale Law School, New Haven, CT 06511, USA)

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 the allocation of resources, including on the efforts of governmental organizations to allocate resources. Over time, less interested in firm organization, Coase directed his work to showing how the market would invariably dominate the government with respect to the allocation of resources, limited by transaction costs. The paper will attempt to show, however, in contrast to widespread views, that there is little link between Coase’s focus on transaction costs in “The Nature of the Firm” and his subsequent attention to those costs in “The Problem of Social Cost.” The paper will include anecdotal support: I was a student of Mr. Coase for many years.

Suggested Citation

  • Priest George L., 2014. "Ronald Coase, Firms and Markets," Man and the Economy, De Gruyter, vol. 1(2), pages 1-15, December.
    • Handle: RePEc:bpj:maneco:v:1:y:2014:i:2:p:15:n:3
    DOI: 10.1515/me-2014-0019
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/me-2014-0019
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/me-2014-0019?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mohrman Henry, 2015. "Coase on the Coase Theorem, “The Social Cost Controversy”," Man and the Economy, De Gruyter, vol. 2(2), pages 215-239, December.
    2. Benito Arruñada, 2016. "Coase and the departure from property," Chapters, in: Claude Ménard & Elodie Bertrand (ed.), The Elgar Companion to Ronald H. Coase, chapter 22, pages 305-319, Edward Elgar Publishing.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:maneco:v:1:y:2014:i:2:p:15:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.