Ronald H. Coase

DEFINITION of 'Ronald H. Coase'

A British economist who won the 1991 Nobel Memorial Prize in Economics for his research on transaction costs and property rights. The award was based on two of his most well-known articles, "The Nature of the Firm" and "The Problem of Social Cost."

BREAKING DOWN 'Ronald H. Coase'

Coase was born in England in 1910 and earned his Ph.D. in economics from the London School of Economics. He has been a professor at the University of Chicago since 1964, and has also taught at the University of Buffalo and University of Virginia at Charlottesville. Coase was editor of the Journal of Law and Economics for nearly two decades and has been a member of the Mont Pelerin Society, an international organization of influential classical liberals.

RELATED TERMS
  1. Coase Theorem

    A legal and economic theory that affirms that where there are ...
  2. Nobel Memorial Prize In Economic ...

    A prestigious award acknowledging outstanding contributions to ...
  3. Vernon L. Smith

    An American economist who won the Nobel Prize in Economics in ...
  4. Merton Miller

    A prominent Chicago school economist. Miller was born in 1923 ...
  5. Douglass C. North

    An American economist and winner of the 1993 Nobel Memorial Prize ...
  6. Thomas C. Schelling

    An American economist who won the 2005 Nobel Memorial Prize in ...
Related Articles
  1. Markets

    Explaining the Coase Theorem

    The Coase theorem states when there are competitive markets and no transaction costs, bargaining will lead to a mutually beneficial outcome.
  2. Professionals

    Get An Academic Finance Career

    Working nine months a year and earning a six-digit salary might seem like the high life, but these jobs are not easy to come by.
  3. Personal Finance

    Winning The Jackpot: Dream Or Financial Nightmare?

    Don't assume all prizes are free. Many come with enough costs to render them worthless.
  4. The Dangerous Idea Keeping You From Outsized Gains

    There's a dangerous idea in the world of finance that's been floating around for years. The man who coined this idea won a Nobel Prize for his work, but even he has stated that there are "threats" ...
  5. Investing

    Want A Career In Asset Management? Read This First

    When it comes to landing that job at an asset manager, not all degrees are created equally. Here's a look at the best schools for the job.
  6. Markets

    Why Can't Economists Agree?

    There are many reasons why economists can be given the same data and come up with entirely different conclusions.
  7. Managing Wealth

    Janet Yellen Success Story: Net Worth, Education & Top Quotes

    Look into the life and academic career of Janet Yellen, the first female chair of the Federal Reserve and a noted Keynesian economist.
  8. Personal Finance

    6 World Class Universities In New York City

    A starter guide to six of the many world-class, respected and highly rated universities and colleges in New York City.
  9. Financial Advisor

    Where the Ultra-Wealthy Go to School

    Want to concentrate on the best chance for building an ultra-wealth clientele? Start with their schooling ... and always bet on Harvard.
  10. Managing Wealth

    University Donations: Which Schools Got the Most

    A closer look at the staggering $40.3 billion donated to colleges and universities in 2015.
RELATED FAQS
  1. How can individuals or businesses handle transaction costs for economic externalities?

    Find out how businesses can work with each other, their customers or third parties to help internalize external costs or ... Read Answer >>
  2. What is the Mont Pelerin Society?

    The Mont Pelerin Society was formed in 1947 when economist Friedrich von Hayek invited 39 people to meet at Mont Pelerin ... Read Answer >>
  3. Are there high capital gains when there's low income?

    My father sold a piece of property that he inherited in order to pay for assisted living expenses. He ... Read Answer >>
  4. Can I receive his full pension and Social Security at the same time?

    My spouse died at age 63 from his disability. I am 60 years old. He took his pension early. Can I receive his full pension ... Read Answer >>
  5. How did Warren Buffett get started in business?

    Warren Buffett may have been born with business in his blood. He started saving while other children were at the playground, ... Read Answer >>
  6. What role do transaction costs play in marginal utility analysis?

    Read about the impact of transaction costs in marginal utility analysis and why economic decisions are not always simply ... Read Answer >>
Hot Definitions
  1. Put Option

    An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security ...
  2. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  3. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  4. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  5. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  6. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
Trading Center