Governing the Commons: The Evolution of Institutions for Collective Action

In 2009, Elinor Olstrom became – and remains – the only woman to win the Nobel Prize in Economics, awarded for her analysis of economic governance, especially the commons. Ten years on, we revisit her groundbreaking book Governing the Commons: The Evolution of Institutions for Collective Action. The governance of natural resources used by many individuals in common is an issue of increasing concern to policy analysts, yet solutions remain elusive. Offering a critique of the foundations of policy analysis as applied to natural resources, Dr Ostrom explores different ways – both successful and unsuccessful – of governing the commons. She seeks solutions to the “Tragedy of the Commons”, analysing both the prisoners’ dilemma and innovative use of game theory to provide alternatives to narrow models of rational choice.