Americans Elinor Ostrom and Oliver Williamson won the Nobel economics prize for their work in economic governance. Ostrom is the first woman to win the prize since it was founded in 1968, and the fifth woman to win a Nobel award this year.<br/><br/>The Royal Swedish Academy of Sciences cited Ostrom for her analysis of economic governance, saying her work had demonstrated how common property can be successfully managed by groups using it. The academy said Williamson, developed a theory where business firms serve as structures for conflict resolution.