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SSRN Electronic Journal
Ronald Coase on the Nature of Social Cost as a Key to the Problem of the Firm
Yoram Barzel, Levis A. Kochin

Paper Summary

The article discusses how a paper by Ronald Coase called "The Problem of Social Cost" changed the field of Industrial Organization 30 years ago. Before 1960, the field was different, but Coase's paper expanded its scope and transformed economic thinking.

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