Read Coase’s comments on “The problem of social cost," the source of the Coase "Theorem." They start more than halfway through. Other parts of his work that he addresses here are less relevant to our course. This is also linked to Efficiency lecture slide 10, which you'll see released on Wed. 2/14.
By the way, Oliver Williamson, another Nobel Laureate mentioned by Coase, studied at Ripon College in the 1950s. His Nobel lecture (not focused on environmental applications of transaction cost economics) is at https://www.nobelprize.org/prizes/economic-sciences/2009/williamson/lecture/.