Nobel Laureate Ronald Coase Dies at Age 102

Dr. Ronald Coase, the oldest living Nobel Laureate until his death in Chicago on Monday, was a pioneer in applying economic theory to the law. Born in the United Kingdom, Coase taught at the University of Chicago, among other institutions, and in the 1960s and 1970s was an affiliate at the RAND Corporation, where he wrote one of his key publications, Problems of Radio Frequency Allocation. His final book, published just last year, examined China's economic transformation. He received the Nobel Prize in Economics in 1991.