The Azerbaijan State News Agency

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TWO AMERICAN SCIENTISTS WIN ECONOMICS NOBEL

12.10.2009 [18:30]
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Baku, 12 October (AZERTAC). American scientists Elinor Ostrom and Oliver Williamson won the Nobel Prize for their separate work in economic governance. Ms Ostrom has become the first woman to win the Nobel Prize for economics since it began in 1968.

The Nobel Memorial Prize in Economic Sciences is the last of the six Nobel prizes announced this year. Since 1980, it has gone to Americans 24 times.

The economics prize was not among the original Nobel awards, but was created in 1968 by the Swedish Central Bank in Alfred Nobel`s memory.

The Royal Swedish Academy of Sciences cited Professor Ostrom, who teaches at Indiana University, "for her analysis of economic governance," saying her work had demonstrated how common property could be successfully managed by groups using it. The pair will share the 10-million Swedish kronor (£910,000; $1.44m) prize.