Last updated: September 03. 2013 1:36PM - 255 Views
Associated Press

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(AP) Nobel Prize winner Ronald Coase (KOHS), a pioneer in applying economic theory to the law, has died at age 102.

The former University of Chicago professor was the oldest living Nobel laureate before his death Monday at a Chicago hospital.

University of Chicago Law School Dean Michael Schill says Coase died Monday after a short illness. Schill says he spoke to Coase's caregiver who was with him when he died.

The British-born economist won the Nobel in economics in 1991. Schill says his work generated a new way of thinking about government regulation.

His most recent book published just last year looked at China's market transformation.

University of Chicago Law School's Coase-Sandor Institute for Law and Economics is named for Coase and donors Richard and Ellen Sandor.

Associated Press
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