Is the Only Form of "Reasonable Regulation" Self Regulation?

Elinor Ostrom, the 2009 Nobel Prize winner in economic science, has made significant contributions throughout her career to the disciplines of political economy and public choice. This article focuses on her contributions to our understanding of how rules of self-governance can produce cooperation out of situations of conflict over resource use. Through the use of a multiple-methods approach to political economy, Ostrom has demonstrated in a variety of historical circumstances and within a diversity of institutional environments how individuals can craft rules so that they can live better together in their communities and realize the gains from social cooperation under the division of labor.