Elinor Ostrom Nobel Prize Economics 2009

I have just been introduced to the work of Elinor Ostrom, although she’s been around for a while. More than ever, her research is important.

From her website:

Analysing the design of long-enduring CPR institutions, Elinor Ostrom (1990) identified eight design principles which are prerequisites for a stable CPR arrangement:

1. Clearly defined boundaries

2. Congruence between appropriation and provision rules and local conditions

3. Collective-choice arrangements allowing for the participation of most of the appropriators in the decision making process

4. Effective monitoring by monitors who are part of or accountable to the appropriators

5. Graduated sanctions for appropriators who do not respect community rules

6. Conflict-resolution mechanisms which are cheap and easy of access

7. Minimal recognition of rights to organize (e.g., by the government)

8. In case of larger CPRs: Organisation in the form of multiple layers of nested enterprises, with small, local CPRs at their bases.

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