The Anglo-American economist Ronald Coase was born on this day (29 December) in 1910. My mentor Guido Calabresi introduced me to Professor Coase’s path-breaking paper “The Problem of Social Cost” back in 1990, a paper I did not fully appreciate at the time. I returned to Coase’s work after I began teaching law in 1998 and eventually became a “Ronald Coase Fellow” in 2006. In his honor, here is my 2012 paper “Modelling the Coase Theorem.” Also, here is an excellent survey of Coase’s ideas (via David Friedman).
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