What was Elinor Ostrom contribution to the management of the commons?

Ostrom was awarded the accolade for her research analyzing economic governance, with a focus on managing finite common-pool resources within a community. These finite resources are referred to as “commons.”

What was Elinor Ostrom solution to tragedy of the commons?

He saw two solutions to this problem; 1) resource regulation through government intervention and 2) privatization. Ostrom’s work challenged Hardin’s approach to the “Tragedy of the Commons”, arguing that individuals and communities could manage their own collective resources.

Why is Elinor Ostrom important?

Professor Elinor Ostrom died of cancer on June 6, 2012 at IU Health Bloomington Hospital aged 78. She was the first and only woman to win the Nobel Prize in Economics for her groundbreaking research on the ways that people organize themselves to manage resources.

What are the 8 principles of Elinor Ostrom?

Based on her extensive work, Ostrom offers 8 principles for how commons can be governed sustainably and equitably in a community. 8 Principles for Managing a Commons. 1. Define clear group boundaries. 2. Match rules governing use of common goods to local needs and conditions.

What was Elinor Ostrom’s model of governing the Commons?

The three dominant models — the tragedy of the commons, the prisoners’s dilemma, and the logic of collective action — are all inadequate, she says, for they are based on the free-rider problem where individual, rational, resource users act against the best interest of the users collectively.

What does Elinor Ostrom mean by common pool resources?

Ostrom uses the term “common pool resources” to denote natural resources used by many individuals in common, such as fisheries, groundwater basins, and irrigation systems. Such resources have long been subject to overexploitation and misuse by individuals acting in their own best interests.

Why was Elinor Ostrom awarded the Nobel Prize?

Her work investigating how communities co-operate to share resources drives to the heart of debates today about resource use, the public sphere and the future of the planet. She is the first woman to be awarded the Nobel in Economics.