IU professor Ostrom wins Nobel economics prize

IU professor Elinor Ostrom became the first woman to win Nobel Memorial Prize in Economic Sciences on Monday. Ostrom was honored for her work in analyses of economic governance, or the way people exercise authority in economic systems.

“What a way to start a Monday morning,” Ostrom said at a press conference. “Your phone rings at 6:30 in the morning and you wonder if there's going to be a voice at the other end. I was very surprised that there was a real person on the other end, and it was from Stockholm.”

Ostrom, who came to IU in 1966 as an assistant professor, cofounded the Workshop in Political Theory and Public Policy with her husband Vincent in 1973.

“IU could not be prouder, and this prize could not have gone to a more deserving person,” said IU President Michael McRobbie. “Everyone at IU congratulates her, as does everyone across Indiana. This is an even greater honor for Elinor as she is the first woman to win in a spectacular year for women.”

Ostrom became one of five women to win Nobel prizes this year – a record for women in an era when female researchers have considerably higher standing than when Ostrom started her academic career.

“If you have lived through the era that I’ve lived through, getting into graduate school was a challenge,” Ostrom said. “You can’t have received a Ph.D. in ’65 as a woman and not be deeply aware that ... advice that was given to me. They said, why would you try for a Ph.D.?”

See idsnews.com later today for more on this story.