By Phil Izzo
Elinor Ostrom, the first and only woman to win the Nobel Prize in economics, died this morning.
Ostrom, 78, won the Nobel in 2009 for her work on resource sharing. She shared the prize with University of California economist Oliver Williamson, who also studied the way economic decisions are made outside markets. (Read economists' reactions to their win)
Indiana University, where she served as senior research director of the Vincent and Elinor Ostrom Workshop in Political Theory and Policy Analysis, Distinguished Professor and Arthur F. Bentley Professor of Political Science in the College of Arts and Sciences, and professor in the School of Public and Environmental Affairs, announced her passing after a battle with cancer.
"Indiana University has lost an irreplaceable and magnificent treasure with the passing of Elinor Ostrom," IU President Michael A. McRobbie said on the University's website.
Ostrom continued to work through her illness, with a piece published earlier today on Project Syndicate, arguing for agreements to foster sustainable sharing of natural resources.
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