Two economists who specialise in understanding behaviour and transactions which are not covered by detailed contracts or law shared the 2009 Nobel prize for economics yesterday.
Elinor Ostrom, a professor from Indiana University, was honoured for her work on the management of common resources such as fish stocks.
Professor Oliver Williamson of the University of California also became a Nobel laureate, sharing the SKr10m ($1.4m, €1m, £909,000) prize, for his complementary, but separate, work on co-operation and conflict within companies.
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