Landmark Nobel prize win for US economists

Elinor Ostrom is the first women ever to be awarded the economics prize since its inception in 1968

Tweet

Print Share

 

Also In The News

Trapattoni looking forward to playoffs
By Darren Estwick.

• Three blasts kill at least 22 in Iraq
• Sunday's football rumour mill
• Obama to end 'don't ask, don't tell' policy

 

Monday, 12, Oct 2009 02:24

By Richard James.

US economists Elinor Ostrom and Oliver Williamson have been awarded the Nobel prize for economics.

The pair were honoured for their work in economic governance, the Royal Swedish Academy of Sciences announced on Monday.

Ms Ostrom was recognised from demonstrating how "common property can be successfully managed by user associations" and Mr Williamson for "developing a theory where business firms serve as structures for conflict resolution".

The academy said the pair's work over the last 30 years had "advanced economic governance research from the fringe to the forefront of scientific attention".

Ms Ostrom is the first women ever to be awarded the economics prize since its inception in 1968.

The prize is the last of six handed out by the academy over the last week. On Friday US president Barack Obama was awarded the prestigious Nobel peace prize.