B Economists usually study markets．Now，two Americans have won the Nobel Prize in economics

B
Economists usually study markets．Now，two Americans have won the Nobel Prize in economics for not studying markets．They will share almost one and a half million dollars for their analysis of economic governance(治理)．The winners are Elinor Ostrom of Indiana University in Bloomington and Oliver Williamson of the University of California，Berkeley．The prize in economic sciences has gone to 63 men since it was first awarded 40 years ago．Elinor Ostrom is the first woman．And，like other winners over the years，her training is not limited to economics．She is a professor of political science and of public and environmental affairs．
Today，economic theory suggests that good resource management requires ownership，either private or public．If not，the thinking goes，then self-interest will lead to overuse and destruction of shared resources．Ecologist Garrett Hardin described this idea in 1968 as“the tragedy of the commons．”
Elinor Ostrom showed how local decision making can lessen the tragedy．Her research has deepened understanding of how people balance their needs with those of others who depend on the same resources．
She studied communities like farmers in Southern California who depended on a common water supply． She documented how people who use resources often develop ways to share them．One example is forest management．She says，“One of the absolutely key，most important variables(变量)as to
whether or not a forest survives and continues is whether local people monitor each other and its use．Not officials，locals．”
Oliver Williamson has studied big companies and found that they often are better than markets at doing complex jobs．Under his theory，businesses act as structures for conflict resolution．
For example，companies that own their suppliers can avoid long-term contracts and disputes over prices．This can make production more efficient and make better use of limited resources．But businesses can also abuse their power．Professor Williamson says the best way to deal with this is not by limiting the size of companies，but through industry regulation．
The Royal Swedish Academy of Sciences said economists need to do more than study markets and prices．The Nobel judges urged more research like the kind they recognized with this year’s award．
60．According to Elinor Ostrom， ．
A．the tragedy of the commons is caused by local decision
B．private ownership can cause the tragedy of the commons
C．overuse of shared resources can cause the tragedy of the commons
D．it is not the officials but the local people who can do something to avoid the tragedy
61．This year’s Nobel Prize for economics is shared by ．
A．Elinor Ostrom and Oliver Williamson B．Elinor Ostrom and Garrett Hardin
C．Oliver Williamson and Garrett Hardin D．63 economic scientists
62．Professor Williamson proved that long-term contracts and disputes over prices can be
avoided by big companies by ．
A．1imiting the size of other companies
B．providing sufficient production
C．sharing resources with their own suppliers
D．setting up their own industry regulation
63．Which of the following can serve as the best title for the passage?
A．Two American Economists Won the Nobel Prize for Studying Markets．
B．Researchers of Economic Governance Won the Nobel Prize for Economics．
C．First Woman to Win the Nobel Prize for Economic Strategies．
D．The Tragedy of the Commons and the Big Businesses．60---63 DACD

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