The Coase Theorem: Redefining Property Rights and Economic Organization
The article explores the impact of Ronald Coase's work on economic analysis. It covers various aspects such as the theory of the firm, transaction costs, the Coase theorem, property rights, and law and economics. The researchers delve into understanding how firms operate, the costs involved in transactions, and the role of property rights in economic organization. They also examine the relationship between law and economics. The key findings highlight the importance of considering transaction costs, property rights, and legal frameworks in economic analysis.