Elinor Ostrom (née Awan; born August 7, 1933) is an American political economist.[2] She was awarded the 2009 Nobel Memorial Prize in Economic Sciences, which she shared with Oliver E. Williamson, for "her analysis of economic governance, especially the commons."[3] She was the first, and to date, the only woman to win the prize in this category. Her work is associated with the new institutional economics and the resurgence of political economy.[4]

Ostrom lives in Bloomington, IN, and is on the faculty of both Indiana University and Arizona State University. She holds a Distinguished Professor at Indiana University and is the Arthur F. Bentley Professor of Political Science and Co-Director of the Workshop in Political Theory and Policy Analysis at Indiana University in Bloomington, as well as Research Professor and the Founding Director of the Center for the Study of Institutional Diversity at Arizona State University in Tempe. Ostrom also serves as a lead researcher for the Sustainable Agriculture and Natural Resource Management Collaborative Research Support Program (SANREM CRSP), managed by Virginia Tech and funded by USAID.[5]

The governance of natural resources used by many individuals in common is an issue of increasing concern to policy analysts. Both state control and privatisation of resources have been advocated, but neither the state nor the market have been uniformly successful in solving common pool resource problems. Offering a critique of the foundations of policy analysis as applied to natural resources, Elinor Ostrom here provides a unique body of empirical data to explore conditions under which common pool resource problems have been satisfactorily or unsatisfactorily solved. Dr Ostrom first describes three models most frequently used as the foundation for recommending state or market solutions. She then outlines theoretical and empirical alternatives to these models in order to illustrate the diversity of possible solutions. In the following chapters she uses institutional analysis to examine different ways - both successful and unsuccessful - of governing the commons. In contrast to the proposition of the tragedy of the commons argument, common pool problems sometimes are solved by voluntary organisations rather than by a coercive state. Among the cases considered are communal tenure in meadows and forests, irrigation communities and other water rights, and fisheries.