This is about common resources that flow though political boundaries: our atmosphere and our ocean.
She has spent her life studying how human societies manage common resources such as forests, rivers, pastures or wildlife.
Economists (including Mr Coase) have tended to emphasise property rights as a solution to the problem of managing common resources.
But Ms Ostrom, who is a political scientist by training, spent much of her early career studying how communities managed such common resources.
In this, she too shadows Mr Coase, who argued that those who advocated government ownership of common resources ignored the transaction costs associated with collecting taxes.
If the ECB uses resources on the least disciplined countries then you have the danger of moral hazard: spending common resources of the Eurozone only on those countries which are worst off.
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The principles of game theory, particularly the theory of repeated interactions, proved remarkably useful in formulating general principles of how common resources ought to be managed without necessarily resorting to private or state ownership.
Standard economic models predict that in the absence of clearly defined property rights, such common resources will be overexploited, with individuals acting without regard for the effects of their actions on the overall pool.
But in 40 years of studying how common resources from lobster fisheries in Maine to irrigation systems in Nepal are actually managed by communities, Ms Ostrom found that people often devise rather sophisticated systems of governance to ensure that these resources are not overused.
Given common management it is easier to work from a common pool of resources, both financial and knowledge based.
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Collective action problems are sometimes thought to arise inevitably from common ownership of resources, but this is not the case.
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Bringing together resources with common vision can create exponential growth opportunities for the cluster.
Both teams are aligned to the Buyer, working towards a common goal with shared metrics and a common understanding of available resources.
However, the concept of utility computing multiple companies sharing a common pool of standardized computing resources never really took off.
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Each project is a collection of services and resources with a common set of team members and billing information.
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It offers marketing tools, training, online exposure and a forum for its members to share resources and find common opportunities.
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"If confirmed as Commerce Secretary, I will dedicate the department's diverse resources to the common cause of fostering economic strength at home, and abroad, " he promised.
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What are the four (4) most common ways organizations break the Law of Resources?
Groups that share common needs for talent, technology, resources and infrastructure.
Crowdfunding is exactly like it sounds: a collective effort from any number of people to network and pool money and other resources together to support a common effort.
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With more than 175 member companies around the world, The Green Grid seeks to unite global industry efforts, create a common set of metrics, and develop technical resources and educational tools to further its goals.
Even the Department of Defense is getting in the game with a mobile application that helps young children gain a stronger appreciation for science by guiding them to resources and answers, and debunking common misconceptions that stymie interest and progress in STEM.
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"We are providing a platform for business leaders and others concerned with the environment and corporate social responsibility to work together toward the common goal of ensuring the availability of natural resources, supporting social reforms, and at the same time securing the efficient delivery of supplies, " said Hau Lee, co-director of the Stanford Global Supply Chain Management Forum.
If we assume monkeys and humans share the same basic mental programming--an assumption some economists refuse to accept--then looking at how monkeys cooperate with each other and consume scarce resources might show certain patterns that are common to all primates.
If those who create the resources give back to that start-up common, the location attracts more start-ups.
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Over the past six years Cincinnati Children's has cut down on common errors, forgotten medicines and wasted efforts that squander resources and hurt patients.
However, all these heroes have a couple of points in common: all of them took initiative independently of the resources and support available, and they did not give up in the face of challenge, resistance, or discouraging circumstances.
In recognition of the challenges posed by cyber-crime, law enforcement agencies around Europe are looking at sharing information and resources to fight high-tech criminals across a common front.
Our two governments will frankly address these challenges in the next few days, with an eye on developing common solutions, with confidence that we have now the necessary resources, the appropriate strategy, and the national will to make continued progress.
The Moon Agreement builds upon the Outer Space Treaty but also says that any natural resources found on the moon are part of "the common heritage of mankind" - in other words, they must be shared.
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