✊ Today we want to remember the work of Elinor Ostrom, first woman Nobel prize recipient in Economics science in 2009.
🌳 Ostrom spent decades studying how communities organise themselves to manage common resources such as fish stocks, woods. lakes, pastures, and groundwater basins. She discovered that communities often develop complex mechanisms on how to make decisions and how to enforce rules, resulting in outcomes that differ widely from those predicted by standard economic theory.
Ostrom and her colleagues performed hundreds of experiments, which show that when people are users of a common pool resource, they are often able to find solutions on how to manage it sustainably, without overusing and destroying it.
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🌳 Collective self-governance: the contribution of Elinor Ostrom 🌳
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✊ Today we want to remember the work of Elinor Ostrom, first woman Nobel prize recipient in Economics science in 2009.
🌳 Ostrom spent decades studying how communities organise themselves to manage common resources such as fish stocks, woods. lakes, pastures, and groundwater basins. She discovered that communities often develop complex mechanisms on how to make decisions and how to enforce rules, resulting in outcomes that differ widely from those predicted by standard economic theory.
Ostrom and her colleagues performed hundreds of experiments, which show that when people are users of a common pool resource, they are often able to find solutions on how to manage it sustainably, without overusing and destroying it.