Uncredited, Associated Press
Ronald H. Coase, a Nobel Prize winning economist, died on Monday in Chicago at the age of 102.
In addition, A Fine Theorem states that Coase is best known for two statements: “that transaction costs explain many puzzles in the organization of society, and that pricing for durable goods presents a particular worry since even a monopolist selling a durable good needs to ‘compete’ with its future and past selves.”
Coase won a Nobel Prize in Economic Science in 1991.
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