This book brings together in one place the work of one of our most respected economic theorists, on a field which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the...

In 1937, Ronald H. Coase published The Nature of the Firm, a ground-breaking paper which raised fundamental questions about the concept of the firm in economic theory. In this volume, leading business economists commemorate Coase's classic article and consider its relevance to economic theory...