"Humans have a more complex motivational structure and more capability to solve social dilemmas than posited in earlier rational-choice theory. Designing institutions to force (or nudge) entirely self-interested individuals to achieve better outcomes has been the major goal posited by policy analysts for governments to accomplish for much of the past half century. Extensive empirical research leads me to argue that instead, a core goal of public policy should be to facilitate the development of institutions that bring out the best in humans."
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Nobel laureates from the United StatesPeople from Los AngelesEconomists from the United StatesNobel laureates in EconomicsUniversity of California, Los Angeles alumni
Original Language: English
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(2009) "Nobel Prize Lecture", December 8.
https://en.wikiquote.org/wiki/Elinor_Ostrom
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Elinor Ostrom
Elinor "Lin" Ostrom (August 7, 1933 – June 12, 2012) was an American political economist, whose work was associated with the new institutional economics and the resurgence of political economy. In 2009, she shared the Nobel Memorial Prize in Economic Sciences with Oliver E. Williamson.
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