Winners of Nobel prize for Economics announcedOctober 13, 2009 - 18:52 AMT PanARMENIAN.Net - The 2009 Nobel season ended on Monday with the announcement of the winner of the prize for Economics.Elinor Ostrom and Oliver Williamson won the 2009 Nobel prize for economics on Monday for their work in economic governance. The Royal Swedish Academy of Sciences said the award recognized Ostrom for showing how common property can be managed by user associations and Williamson for a theory on corporate conflict resolution. Ostrom became the first woman to win the economics prize, which was established in 1968. Ostrom, a political scientist at Indiana University, showed how common resources - forests, fisheries, oilfields, grazing lands and irrigation systems - can be managed successfully by the people who use them, rather than by governments or private companies. Williamson, an economist at the University of California, Berkeley, focused on how companies and markets differ in resolving conflicts. He found that companies are typically better able than markets to resolve conflicts when competition is limited. Top stories As a result of floods in Armenia’s northern Lori and Tavush provinces, 17 bridges, including five large ones, have collapsed. David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Prime Minister Nikol Pashinyan has met with Stephan Schütz, Executive Partner at Gerkan, Marg and Partners. The number of state universities will be reduced from 23 to 8 by 2030, Minister of Education, Science, Culture and Sport Zhanna Andreasyan has said. Partner news Most popular in the section | Armenia congratulates “friendly people of Belarus” on Independence Day The Armenian Foreign Mnisitry has congratulated the “friendly people of Belarus” on Independence Day. Armenian wrestlers win 3 medals at U20 European Championships The Armenian team has won 3 medals at the U20 European Greco-Roman Wrestling Championships. Ameriabank, COAF pool efforts to develop beekeeping in Lori COAF and Ameriabank have presented their joint program Harvesting Nature’s Bounty. Putin to meet Erdogan, Aliyev on SCO sidelines Putin will hold meetings with Turkish President Recep Tayyip Erdogan and Azerbaijani President Ilham Aliyev. |