Wednesday, October 14, 2009

Lin Ostrom Wins Nobel for Economic Science

Lin Ostrom did research on community based institutions developed to manage common pool resources, specially irrigation system and forestry in Nepal in 90s. I had chance to work with her briefly, and learned at that time it is the hard work, dilligence, observation, analysis, love and human response were wrought in her heart. She woke up at 3am every morning and started writing. The below paragraph is just a copy and paste from, the link is given at the end. I will write my experience with her in another blog.

In the mean time, entire internet is flooded with the news of her geting Nobel Prize for Economic Science. Just google "Elinor Ostrom" you will get plenty!

Thank you

In 2009, Ostrom became the first woman to receive the prestigious Nobel Memorial Prize in Economic Sciences. The Royal Swedish Academy of Sciences cited Ostrom "for her analysis of economic governance," saying her work had demonstrated how common property could be successfully managed by groups using it. Ostrom and Oliver E. Williamson shared the 10-million Swedish kronor (£910,000; $1.44 m) prize for their separate work in economic governance.[4]

The Royal Swedish Academy of Sciences said Ostrom's 'research brought this topic from the fringe to the forefront of scientific attention', "by showing how common resources — forests, fisheries, oil fields or grazing lands, can be managed successfully by the people who use them, rather than by governments or private companies". Ostrom's work in this regard, challenged conventional wisdom, showing that common resources can be successfully managed without government regulation or privatization