CHICAGO - British-born Nobel Prize winner Ronald Coase, 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 after a short illness. Schill says he spoke to Coase's caregiver, who was with him when he died.
The 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.