Ronald Coase and the legal system: about the Nobel Prize in Economics 1991

• Autor: Bullard G., Alfredo
• Formato: artículo
• Fecha de Publicación: 1991
• Institución: Universidad del Pacífico
• Repositorio: Revistas - Universidad del Pacífico
• Lenguaje: español
• OAI Identifier: oai:ojs.revistas.up.edu.pe:article/327
• Enlace del recurso: https://revistas.up.edu.pe/index.php/apuntes/article/view/327
• Nivel de acceso: acceso abierto

This article summarizes and explains the scope of the zoork developed by Ronald Coase whereby he won the Nobel Prize in Economy. The author not only analyzes Coase's contribution to the Economic Theory but mainly his contribution to understand the design of legal institutions and systems. This part includes a general analysis of the two key articles of Coase's Theory: 'The Nature of the Firm' and 'The Problem of the Social Costs'. These articles outline the 'transaction cost' concept, which helps us to understand both the Economy as well as the Law institutional designs.