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13 Oct 09

Marginal Revolution: Elinor Ostrom and the well-governed commons

  • A formally government protected forest, for example, will fail to protect if the local users do not regard the rules as legitimate. 
  • In Hayekian terms legislation is not the same as law.  Ostrom's work is about understanding how the laws of common resource governance evolve and how we may better conserve resources by making legislation that does not conflict with law.

The Ostrom Nobel — Crooked Timber

  • It is also a vote in favor of supplementing quantitative work with qualitative understanding
  • Elinor Ostrom has challenged the conventional wisdom that common property is poorly managed and should be either regulated by central authorities or privatized. Based on numerous studies of user-managed fish stocks, pastures, woods, lakes, and groundwater basins, Ostrom concludes that the outcomes are, more often than not, better than predicted by standard theories.
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04 Sep 09

Carrots are better than sticks - life - 03 September 2009 - New Scientist

  • Want cooperation? Rewarding the helpful can be more effective than punishing wrongdoers, a new experiment in game theory suggests.
  • In the public goods game, players choose whether or not to contribute money to a common pot. The pot is multiplied and redistributed equally, regardless of who contributes and who doesn't. When people play a pure version of the game, the temptation to freeload – reap the rewards without contributing anything – often leads to rapidly disintegrating cooperation.
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