Financial Regulation: Law and Policy is a new textbook that aims to teach students about today's financial sector with a modular, accessible, balanced, practical, and ready-to-use approach. Our goal is to give students the tools to understand how American history and political economy have...

This chapter explores recent Fintech innovations through the lens of Ronald Coase's classic article: The Nature of the Firm. Applying a transaction cost analysis, the chapter argues that developments in computer technology, data processing, and information networks are reshaping the manner in...