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Coase believed economists should avoid becoming a “hard science of choice” and instead consider what factors?

  • Society, History

  • Mathematics, Statistics

  • Computer Science

  • Physics, Biology

Answer

**Society and history shape and influence economic behavior, and therefore economics cannot be purely objective and should not focus solely on individual choices.** Instead, it should also take into account societal norms, historical context, and institutional arrangements that impact economic decisions and outcomes. This broader approach to economics enables a deeper understanding of real-world economic phenomena.
Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate

Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate

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