IUCN congratulates Professor Elinor Ostrom, a member of IUCN's Commission on Environmental, Economic and Social Policy, for winning the Nobel Memorial Prize in Economic Sciences
Professor Ostrom, who is involved with the theme on Governance, Equity and Rights in the Commission, shared the prize with Oliver E. Williamson, for "her analysis of economic governance, especially the commons". She is the first woman to win the prize in this category.
"We were delighted to hear about Professor Ostrom's remarkable achievement," said IUCN Director General Julia Marton-Lefèvre. "IUCN has widely used the results of her research to advance community-based natural resource management and to support governance regimes that enable improved management of common property resources." " Elinor Ostrom's work breaks the economics mould by showing that privatising natural resources is not the route to halting environmental degradation' said Aroha Mead, Chair of the Commission on Environmental, Economics & Social Policy.
Announcing the prize, the Royal Swedish Academy of Sciences said Professor Ostrom has challenged the conventional wisdom that common property is poorly managed and should be either regulated by central authorities or privatized.
Based on numerous studies of user-managed fish stocks, pastures, woods, lakes, and groundwater basins, Professor Ostrom concludes that the outcomes are, more often than not, better than predicted by standard theories, judges added.
She observes that resource users frequently develop sophisticated mechanisms for decision-making and rule enforcement to handle conflicts of interest, and she characterizes the rules that promote successful outcomes.
Professor Ostrom is the Arthur F. Bentley Professor of Political Science, and Co-Director of the Workshop in Political Theory and Policy Analysis at Indiana University. She is also the Founding Director of the Center for the Study of Institutional Diversity at Arizona State University.