Elinor Ostrom, the first woman to win the Nobel Memorial Prize in Economic Sciences, is also one of the most iconoclastic thinkers to win it. (She shared it with Oliver Williamson.) Professor Ostrom’s work focuses on the mechanisms of self-governance that operate in different societies. Her intellectual curiosity led her to study local public economies—in particular the municipal provision of police services, the management of water supplies, fisheries, forestry, and development in the less-developed world. Her framework of analysis builds from a model of humanly rational choice to a historically grounded institutional analysis. She studies the rules that govern the behavior of individuals in their interactions both with nature and with one another.
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