The insightful Prof. Ronald Coase turned 101 years old few days ago on Dec 29, 2011. The following is the 2011 edition of the yearly Coase Lecture delivered by Prof. Thomas Miles.
P.S. I’ve finished watching the video now. I think I need a much more detail review of the referenced research papers (which I don’t have time to do) before I can decide if I have missed noticing any potential source of problems/mistakes.