A hearty congratulations to Elinor Ostrom, who was awarded the Nobel in Economic Science today! She is the first woman to win this award, and the fifth woman to win a Nobel this year. She is being honored along with fellow American Oliver Williamson of the University of California, Berkeley. Ostrom teaches at Indiana University in Bloomington, Indiana. Both were recognized for their work analyzing economic governance. Ostrom showed how common resources can be managed successfully by those who use them rather than by government or privatization. The traditional view is that common ownership results in resource exploitation.
Ostrom said she will donate the proceeds to research and graduate students. What a badass.