WORLD> America
Americans Ostrom, Williamson win economics Nobel
(Agencies)
Updated: 2009-10-12 19:36

STOCKHOLM: American economists Elinor Ostrom and Oliver Williamson won the 2009 Nobel prize for economics for their work in economic governance, the prize committee said on Monday.

Americans Ostrom, Williamson win economics Nobel

The Royal Swedish Academy of Sciences said the 10 million Swedish crown ($1.4 million) prize recognized Ostrom for showing how common property can be managed by user associations and Williamson for a theory on corporate conflict resolution.

Related readings:
Americans Ostrom, Williamson win economics Nobel Chavez: Obama did nothing to deserve Nobel
Americans Ostrom, Williamson win economics Nobel Barack Obama wins Nobel Peace Prize
Americans Ostrom, Williamson win economics Nobel Some facts about the Nobel Peace Prize
Americans Ostrom, Williamson win economics Nobel Herta Mueller wins Nobel literature prize
Americans Ostrom, Williamson win economics Nobel2 Americans, 1 Israeli win Nobel chemistry prize

"Over the last three decades, these seminal contributions have advanced economic governance research from the fringe to the forefront of scientific attention," the committee said in its statement.

The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It is not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will.