Week 7 Memo questions

## Week 7
1. Ostrom et al introduces us to the idea of common pooled resources (CPR) and how they can be managed. Much of the discussion focuses on solving the CPR problem of free riding. Further, they argue that when individuals face a public good problem are able to communicate, sanction one another, and make new rules then rational choice models no longer predict. Extrapolate what this means for understanding poverty and poverty reduction. Provide at least 3 concrete connections.
2. North defines institutions as “Humanly devised constraints that structure human interaction and that exist to reduce the ubiquitious uncertainty arising from that interaction.” (p. 10). Provide two contemporary examples of institutions that facilitate and 2 that impede development.

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