2009 Nobel Prize in Economics


2009 Nobel Prize in Economics

Elinor Ostrom | Oct 12, 2009

Congratulations to Elinor Ostrom and Oliver Williamson, winners of the 2009 Nobel Prize in Economics. Ostrom and Williamson are pioneers in the field of New Institutional economics.  Their work speaks to the value of bringing the real world back into the study of economics. 
The Mercatus Center is proud of its longstanding association with Elinor Ostrom whose work demonstrates the extraordinary capacity of individuals to solve problems without resorting to top down, one size fits all plans.  Through innovative fieldwork, she has shown the wisdom of decentralized governance – making sure that the people who have the most relevant and local knowledge are the ones empowered to make decisions. 
Elinor’s interdisciplinary and innovative methodological approach are important contributions to how we study society, and recognize the importance of respecting the individual and institutional diversity in crafting public policy. 
To learn more about Ostrom’s work and its importance to the field of political economy visit the links below or the Associated Publications:

An Open Letter Regarding the 2009 Nobel Prize in Economics by Peter Boettke
Challenging Institutional Analysis and Development: The Bloomington School
by Paul Dragos Aligica and Peter J. Boettke
A recent book on Elinor Ostrom’s research program, The Bloomington School and its approach to political economy.
Rethinking Institutional Analysis: Interviews with Vincent and Elinor Ostrom
An interview with Elinor and Vincent Ostrom on their work in the field of institutional analysis.

Symposium edition on the Ostroms’ contributions in the Journal of Economic Behavior and Organization, edited by Peter Boettke.

Mercatus Scholars Commenting in the Media on the 2009 Nobel Prize in Economics

Mercatus Scholars Blogging on the 2009 Nobel Prize in Economics

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