. @nayafia's review of Elinor Ostrom's remarkable book "Governing the Commons": https://medium.com/@nayafia/an-alternate-ending-to-the-tragedy-of-the-commons-446b4e960887 …pic.twitter.com/DokyhNehmj
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it's tempting to think that the standard, simple game-theoretic analyses (prisoner's dilemma etc) are correct. But Ostrom looked in detail empirically at what happened. And it's way more complex and & interesting.pic.twitter.com/jWYATCiyzC
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I'm such a huge fan Elinor Ostrom's work. Such a terrific combination of empirical motivated by good theory and example of doing realistic game theory. All the naive game theory was just necessary gateway to setting up more advanced/realistic frameworks.
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Much of mainstream economics largely dismisses the roles of complexity, path dependency, institutions & broader behavioral aspects in shaping economic outcomes. Even game theoretic approaches are finding unexpected outcomes via experimental economics. Details & realism matter.
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Understanding the inductive approach used by the Ostrom's is critical to understanding their approach. Frustrating for traditional social scientists who are trained in induction, but their approach is more effective for finding sustainable solutions.
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