Oliver Williamson, a professor at UC Berkeley, won the Nobel economics prize on today. Along with Elinor Ostrom, Williamson nabbed the award "for their analyses of economic governance - the way authority is exercised in companies and economic systems."

Specifically, according to the New York Times, the Cal prof won his award for his theories as to "why some business transactions take place inside of firms and others don’t."

Williamson has held professor positions in business administration, economics, and law at the UC Berkeley since 1988 "and is currently the Edgar F. Kaiser Professor Emeritus at the Haas School of Business."

This concludes this the 2009 Nobe Prize Awards.