The Tragedy of the Commons
In his 1968 article, biologist Garrett Hardin introduced the theory of 'The Tragedy of the Commons.' He argued that resources without clear ownership, such as the atmosphere or fish stocks—also known as 'common property' or 'common-pool resources'—are prone to overexploitation. This occurs because, without some form of access control, the incentive structure encourages individuals to overuse the resource, leading to its potential depletion.
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The Economy 2.0 Microeconomics @ CORE Econ
Ch.1 Prosperity, inequality, and planetary limits - The Economy 2.0 Microeconomics @ CORE Econ
Ch.4 Strategic interactions and social dilemmas - The Economy 2.0 Microeconomics @ CORE Econ
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
Introduction to Microeconomics Course
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