Search Results for: ostrom

Epistemology and Synthetic Market Design: Examples from Ecosystem Services

1 Comment / Economic history, Environmental policy / By

Some of the most illuminating work in market design lately has been in payment for ecosystem services (PES). These projects provide examples of the continuing relevance of institutions to economic and policy outcomes, and the importance of Elinor Ostrom’s work on the diversity of governance institutions in common-pool resources; despite criticisms leveled at synthetic markets, …

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BBC News: World’s Fishing Fleets Mapped from Orbit

Uncategorized / By

This BBC article on big data and fisheries is fascinating. Using satellite photography, researchers have mapped all of the world’s fisheries by area, finding that fishery area is larger than arable acreage while providing less than 2% of all calories consumed. I also found the conclusion thought-provoking that the patterns reveal larger effects from politics …

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The Road to Anarchy is Paved with Good Manners

3 Comments / Economics, Law, Liberty / By

Michael Giberson Sarah’s essay on reading and sympathy, explicated a bit in her post here at KP on manners, and Matt Zwolinski’s near contemporaneous remarks on the same topic, recalled to me one of my favorite ideas: the road to anarchy is paved with good manners. I mean “anarchy” in a good way, of course: “anarchy” …

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Private Management of the Commons: Parking Spots and Chicago Snow

6 Comments / Economics / By

Michael Giberson No doubt that since Elinor Ostrom won a Nobel Prize last year for, among other things, her work on decentralized approaches to common pool resource issues, a small legion of social science graduate students are looking for new cases of non-governmental management of common pool resources. Here is an example supplied by Fred …

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Cooperation and Cheating Among Bacteria

2 Comments / Economics, Miscellany / By

Michael Giberson Ed Yong, at Not exactly rocket science, describes recent research into, uh, I guess you could describe it as the socioeconomic life of bacteria: Bacteria may not strike you as expert co-operators but at high concentrations, they pull together to build microscopic ‘cities’ called biofilms, where millions of individuals live among a slimy …

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Roads and Paths As Common-pool Resources, and the Problem of Governing Them

4 Comments / Economics, Sport and fitness / By

Lynne Kiesling Yesterday at Reason’s Hit & Run Tim Cavanaugh wrote about something that I’ve been thinking about for a long time: the institutions we use for governing the shared use of paths between cyclists and motorists on roads, and among cyclists, walkers, runners, rollerbladers, etc. on multi-use paths. Tim’s starting point was Christopher Beam’s …

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California Adopts Feed-in Tariff for Distributed Wind and Solar Power Systems, with Nobel Prize Notes

Economics, Electricity, Politics, Regulation / By

Michael Giberson Not all of the news this week is about Nobel prize surprises. The Los Angeles Times reports that California is adopting feed-in tariffs for distributed renewable power production: Under AB 920, the state Public Utilities Commission will set a rate for utilities to compensate customers whose solar or wind systems produce more power …

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Paul Romer on the Nobel

Economics / By

Lynne Kiesling Wow. Paul Romer’s blog post congratulating Elinor Ostrom for yesterday’s Nobel is dramatic. And, in my view, entirely accurate. I really appreciate his “skyhooks and cranes” invocation: Most economists think that they are building cranes that suspend important theoretical structures from a base that is firmly grounded in first principles. In fact, they …

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Henderson, Smith on the Nobel and Its Implications for Economics

9 Comments / Economics / By

Lynne Kiesling Today David Henderson has penned the traditional Wall Street Journal commentary on yesterday’s Nobel award to Elinor Ostrom and Oliver Williamson. He provides an excellent summary of the importance of their work, and I recommend it to you highly. In fact, David’s theme reconciles what some commenters have observed as a political or …

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Cass Sunstein, Oira, and Nudging

2 Comments / Economics, Politics, Regulation / By

Lynne Kiesling On Thursday President-elect Obama named law professor Cass Sunstein to head the Office of Information and Regulatory Affairs, an executive-branch office with the mission of analyzing and coordinating federal regulation. Most recently, Sunstein is known for his work with Richard Thaler on “choice architecture” and behavioral public policy, including their book Nudge. Others …

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