Elinor Ostrom was the first woman to win the Nobel memorial prize in economic sciences. She was born in Los Angeles, California. She received her PhD in political science at the University of California and went on to work at Indiana University.
Elinor’s research addressed a familiar problem in economics called ‘The Tragedy of the Commons’, which was introduced by ecologist Garrett Hardin in a famous article published in the journalScience. The Tragedy of the Commons occurs when a resource is overused due to the absence of private property rights or government control.
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