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 today. The book includes a reprint of The Nature of the Firm, together will three lectures by Coase from 1987, which provide an account of the origins and development of his thought. The new paperback includes the first publication of the lecture which Coase delivered on winning the Nobel Prize for Economics in 1991. Contributors: Ronald H. Coase, Sherwin Rosen, Paul Joskow, Oliver Hart, Harold Demsetz, Scott Masten, Benjamin Klein, Oliver Williamson, Sidney Winter
Readership: Graduate and undergraduate students of economic theory.
Edited by Oliver E. Williamson, Transamerica Professor of Business Economics, University of California, Berkeley, and Sidney G. Winter, Chief Economist, US General Accounting Office, Washington DC
"the evolution of the theory is interesting, several important issues are discussed, and the suggestions for future research are illuminating ... For those not familiar with this literature, the book provides a clear exposition of its origins and key ideas." - Business History
Oliver E. Williamson: Introduction 1: R. N. Coase: The Nature of the Firm 2: R. N. Coase: The Nature of the Firm: Origin 3: R. N. Coase: The Nature of the Firm: Influence 4: R. N. Coase: Nobel Lecture 5: Sherwin Rosen: Transactions Costs and Internal Labor Markets 6: Oliver E. Williamson: The Logic of Economic Organization 7: Paul L. Joskow: Asset Specificity and the Structure of Vertical Relationships: Empirical Evidence 8: Oliver D. Hart: Incomplete Contracts and the Theory of the Firm 9: Harold Demsetz: The Theory of the Firm Revisited 10: Sidney G. Winter: On Coase, Competence, and the Corporation 11: Scott E. Masten: A Legal Basis for the Firm 12: Benjamin Klein: Vertical Integration as Organizational Ownership: The Fisher Body-General Motors Relationship Revisited
