Multiple choice

The Royal Swedish Academy of Sciences announced Elinor Ostrom & Oliver E. Williamson as winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (commonly known as Nobel Economics Prize) for 2009. Which of the following statements about this year's winners is/are correct? I. Elinor Ostrom is from Indiana University, Bloomington, USA while Oliver E. Williamson is from University of California, Berkeley, USA. II. Elinor Ostrom is the first woman to win the prize since it was founded III. This year's winners were chosen “for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles”

  1. I only

  2. II only

  3. I and II only

  4. II and III only
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This year\'s winners were selected for their work in economic governance. Ostrom was honoured for her analysis of economic governance, saying her work had demonstrated how common property can be successfully managed by groups using it. Oliver E. Williamson was selected for his studies on how organisations are structured and how that affects the cost of doing business. The economics prize was the last Nobel award to be announced this year. In addition to the cash prize, the Nobel Prize winners receive a gold medal and diploma from the Swedish king on December 10, the anniversary of Alfred Nobel\'s death in 1896.

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