Nobel Prize awarded for "Ostrom's Law", governance of common resources

Ostrom's law is an adage that represents how Elinor Ostrom's works in economics challenge previous theoretical frameworks and assumptions about property, especially the commons. Ostrom's detailed analyses of functional examples of the commons create an alternative view of the arrangement of resources that are both practically and theoretically possible. This eponymous law is stated succinctly by Lee Anne Fennell as: A resource arrangement that works in practice can work in theory.[44]

Category:
Economics

Completion Status:
yes

Patent Number:
N/A