Ronald Coase received the Nobel Prize for Economic Sciences in 1991 for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and ...
Coordination of economic activity in these imaginary worlds would be via prices/bargaining. Coase's observation: There are costs to using the price mechanism for coordinating economic activity.
Info: Event free and open to all with no ticket or registration required - further information from LSE Events. In this inaugural Coase lecture, Oliver Hart will discuss how his recent work with John ...