This month’s column pays a tribute to Elinor Ostrom, who shared the Nobel Prize award in economic science in 2009 with Oliver Williamson. Ostrom, who died at age 78 on June 12, was cited by the Nobel Committee for “her analysis of economic governance, especially the commons,” a term that refers to resources that are owned or shared in common among communities.
Next up in my series of columns about the great academic thought leaders who were seminal in the development and success of modern outsourcing are two of my favorite game theorists: the mathematician and Nobel laureate John F. Nash, who took economists a step or two beyond Adam Smith with his ideas on game theory and the art of collaborating, or playing together nice, for the win-win; and Robert Axelrod, who verified the beauty of cooperation through his early work with computers to solve a classic game theory behavioral experiment.
This article originally appeared in Outsource Magazine Issue #23 Spring 2011
Leading academics charted a path that challenges the conventional definition of winning. Smart companies are applying these concepts, showing that win-win thinking is not just something nice to say: it’s smart business – and really is beautiful…