Nobel Prize winner honored with Indiana University statue

BLOOMINGTON, Ind. (AP) - The first woman to win the Nobel Prize in economics is being recognized with a new statue at Indiana University.

The statue of Elinor Ostrom was unveiled this week near Woodburn Hall on the Bloomington campus where she taught for many years as an IU professor. The statue depicts Ostrom sitting on a bench, smiling and looking up as if talking with a visitor.

Ostrom won a share of the 2009 Nobel Prize for her research into how people overcome selfish interests to successfully manage natural resources. She died in 2012 at age 78.

IU President Michael McRobbie and other school leaders took part in the unveiling ceremony. McRobbie said he hoped Ostrom's legacy will inspire students and others to make their own contributions to the advancement of knowledge.

Retired IU professor Michael McGinnis, who was a longtime colleague of Ostrom, said even after winning the Nobel Prize she often made time for young scholars, recalling that when she died a copy of a student's dissertation was found nearby with comments she had written.