Oliver E. Williamson is a prominent author in the area of transaction cost economics, a student of Ronald Coase, Herbert Simon and Richard Cyert.
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Elinor Ostrom is an American political scientist. She was awarded the 2009 Nobel Memorial Prize in Economic Sciences, which she shared with Oliver E. Williamson, for "her analysis of economic governance, especially the commons".
This year's Nobel Economics Prize, given to two American scholars (Oliver E. Williamson & Elinor Ostrom) who have made great contributions to the new institutional economics (NIE), is more a merit of the past, said a Washington economist on Monday.
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