peel.

The Big Picture for this year's Economics Nobel Prize

Congrats to Oliver Williamson of University of California at Berkeley and Elinor Ostrom of Indiana University at Bloomington for winning this year’s Nobel prize for economics.

Neither were expected to win (as shown by Greg Mankiw’s scoresheet below), but both works answered big questions in a way that deviates from the traditional, more quantitative lens that recent prize winners have examined.

Fine proof that curiosity is what makes a great economist.