Ronald Coase Institute

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On December 9-15, 2018 in Bratislava, Slovakia, the Ronald Coase Institute will hold a workshop on institutional analysis.  The University of Economics in Bratislava and Virtual Scientific Laboratories will co-sponsor this workshop.  Further details and information on how to apply will be posted later.

On May 12-18, 2019 in Warsaw, Poland, the Ronald Coase Institute will hold a workshop on institutional analysis.  The Faculty of Economic Sciences, University of Warsaw will co-sponsor this workshop.   Further details will be posted here later.

A Research Agenda for New Institutional Economics

A Research Agenda for New Institutional Economics, edited by Claude Menard and Mary M. Shirley, will be published in 2018 by Edward Elgar Publishers. This book, which explores the future research agenda for new institutional economics (NIE), arrives at an opportune moment. An explosive rise in computing power, machine learning, and digitization of data, allow researchers to investigate questions that could never be analyzed systematically before, especially since NIE empirical analysis demands rich and complex institutional details. In 30 brief chapters, this book will help and inspire scholars to seize this moment and make the best use of their research efforts. Chapters probe the knowledge frontiers of issues long at the forefront of NIE such as government, contracts, and property rights; explore emerging questions in underexplored topics such as norms, culture, and beliefs; and scrutinize novel issues raised by new technology and changing circumstances, such as social media and blockchain. Concluding chapters deal with tools, techniques, and approaches, including how to measure institutions, use experiments, and exploit big data and machine learning.

Table of contents (PDF)
Editors' introduction with sample of abstracts (PDF)

Conference on the Life and Legacy of Douglass North

A conference reflecting on the impact of Douglass North's work on the discipline of economics was held at the Mercatus Center, George Mason University, March 2-3, 2018, in Arlington, Virginia, USA. It was hosted by Lee Alston, John Nye, and Barry Weingast. There were 5 conference themes: 1) Cliometrics and Measurement; 2) Relative Prices, Property Rights, and Transaction Costs; 3) Institutions; 4) Belief and Cognition; and 5) Violence. Each theme had a keynote lecture and a series of paper presentations.

First China Economics Prize Awarded to
Chenggang Xu and Yingyi Qian

Chenggang Xu, Coase Institute Board and faculty member, has been awarded the first China Economics Prize, jointly with Yingyi Qian (also Coase faculty). This major new prize was created by the Contemporary Economics Foundation in Beijing to recognize Chinese scholars who have made outstanding contributions in the field of economics.

Chenggang Xu Yingyi Qian
Chenggang Xu         Yingyi Qian

The inaugural prize honors Xu’s and Qian’s research on government and enterprise incentive mechanisms for the transition economy of China. The two scholars will also share a monetary award of 2 million yuan.  Chenggang Xu is currently at the Cheung Kong Graduate School of Business and Yingyi Qian is at Tsinghua University, both in Beijing.

The Elgar Companion to Ronald Coase

The Elgar Companion to Ronald Coase, edited by Claude Menard and Elodie Bertrand, has recently been published by Elgar Press. The volume includes essays by 31 authors assessing the impact of Ronald Coase's work and the inspiration researchers and policy makers find in his contributions. See details.

Menard and Bertrand book cover

Journal of Human Capital:
Special Issue Honoring Ronald Coase

A special issue of the Journal of Human Capital has been issued in honor of Ronald Coase. The issue is based on a conference held in his honor at the University of Buffalo in May 2012. See this link to the on-line issue.

In Memoriam: Kenneth Arrow, 1921-2017

Kenneth Arrow passed away on February 21, 2017 in Stanford, California.  We have lost a brilliant economist, a generous member of our board, and a cherished friend.

One of the founders of modern economics, he received the Nobel prize in economics – the youngest recipient ever of this prize - for his pioneering contributions to general economic equilibruum theory and welfare theory. His interests were broad and deep.  His dissertation Social Choice and Individual Values presented his impossibility theorem: that no system of voting can perfectly reflect the public’s will if three or more alternatives are being considered.

Kenneth Arrow served on the board of the Coase Institute from 2005 until his death and participated in many activities of the Institute. He was deeply interested in the progress of young scholars around the world.

He will be profoundly missed.

Arrow's talks at 2015 Washington conference:
|Future directions of research in the Coasean tradition|
|Q&A session|

Elinor Ostrom: An Intellectual Biography by Vlad Tarko has just been published by Rowman & LIttlefield International. A Nobel laureate in economics and a leader in new institutional economics and public choice, Elinor Ostrom served on the board and faculty of the Ronald Coase Institute. See details and an overview of the book.

Who We Are

See this video about the Ronald Coase Institute.

                                          (Also accessible on YouTube)

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   Workshop comments:
     "Superlative experience" (Boulder)
     "Famous scholars and delicious
        food" (Shanghai)
     "Most exciting workshop I have
        attended" (Singapore)
     "Demanding, intensive and mentally
        exhausting...also one of the most
        rewarding" (Philippines)
     "Best learning experience within last
        31 years" (Bratislava)
     "Academic-life-changing experience,
        no kidding" (Beijing)

Group gathering at Shanghai workshop

  Ronald Coase Remembered

  How China Became Capitalist by
       Ronald Coase and Ning Wang is
       available in hardcover, paperback, and
       electronic versions.


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