CBS Honorary Doctor receives Nobel Prize in Economics
- CBS Honorary Doctor, Professor Oliver Williamson of UC Berkeley is one of two to receive the Nobel Prize in Economics, 2009. The other recipient is Elinor Ostrom of Indiana University.
On 12 October 2009, the Royal Swedish Academy of Sciences decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2009 to Elinor Ostrom of Indiana University for her analysis of economic governance, especially the commons, and to Oliver E. Williamson of University of Berkeley for his analysis of economic governance, especially the boundaries of the firm.
First woman to receive the Nobel Prize in Economics
Elinor Ostrom is the first female scholar to receive this prize. Oliver Williamson is an honorary doctor of CBS and a long time contributor to our institution.
“This award has multiple perspectives for the CBS. Both scholars have contributed in exciting ways to economic governance and organizational economics and been an inspiration to several connected research environments at CBS: the Centre for Strategic Management and Organization, the Department of Innovation and Organizational Economics and the Department of Economics,” says Professor Peter Møllgaard, Head of CBS’ Department of Economics.
Nobel Prize winners inspire CBS research environments
“Our world-class research environment on ‘Design and Governance of Economic Institutions’ is directly inspired by the eminent work of the two scholars. Elinor Ostrom has analyzed how common property can be successfully managed by user associations – in ways that for example have direct implications for the politicians trying to deal with CO2 emissions at COP15 in Copenhagen later this year. Oliver Williamson has investigated the boundaries of the firms and shown that business firms can serve to resolve conflicts between different economic agents.”
“It is also a great signal to female scholars, that Elinor Ostrom has received the Nobel Prize. A new path has been paved,” concludes Peter Møllgaard.