In the field: Coase an exemplar in the tradition of Smith, Marshall and Ostrom

Gavin C. Reid

Research output: Contribution to journalArticle

1 Citation (Scopus)
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Abstract

This paper argues that Coase provides the primary 20th century exemplar of the grounding of analytical developments in economics in direct fieldwork observation. In particular, his focus on the business enterprise, its internal functions (including decision-making), and its external relations (including contracting) has provided a stimulus for radical developments in microeconomics and in managerial and decision economics in particular. The argument is developed by a stylization of the development of economics, referring to Adam Smith in the 18th century, Alfred Marshall in the 19th century, Ronald Coase in the 20th century, and Elinor Ostrom in the 21st century.
Original languageEnglish
Pages (from-to)16–32
Number of pages17
JournalManagerial and Decision Economics
Volume36
Issue number1
DOIs
Publication statusPublished - 10 Dec 2014

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Economics
Electric grounding
Industry
Decision making
20th century
Business enterprise
Microeconomics
Elinor Ostrom
18th century
Adam Smith
Contracting

Cite this

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In the field: Coase an exemplar in the tradition of Smith, Marshall and Ostrom. / Reid, Gavin C.

In: Managerial and Decision Economics, Vol. 36, No. 1, 10.12.2014, p. 16–32.

Research output: Contribution to journalArticle

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