Ostrom, Williamson, share Nobel Prize for Economics

By DPA,

Stockholm : The Nobel Prize for Economics was awarded Monday to US researchers Elinor Ostrom and Oliver Williamson, the Royal Swedish Academy of Sciences announced.

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Ostrom of Indiana Uiversity in Bloomington, Indiana, was cited “for her analysis of economic governance, especially the commons”, while Williamson of the University of California at Berkeley, California, was cited for “his analysis of economic governance, especially the boundaries of the firm.”

The two laureates were to equally share the prize worth 10 million kronor ($1.4 million).

The prize – formally called The Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel – last year was awarded to Paul Krugman of the US.