Well Deserved
It is gratifying to see Oliver Williamson and Elinor Ostrom receive the Nobel Prize in Economics (or, more exactly the Swedish Central Bank Prize). They are deserving individuals who have brought much insight–and wisdom–to important, but hard to formalize, issues of organization and governance. Moreover, as someone who has published in transactions cost economics, new institutional economics, and property rights economics it is quite satisfying to see these areas of research get some, er, props.
