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Tragedy of the Commons Problem definition

Tragedy of the Commons Problem definition. This is about allocation of scare resources and greed. Individuals use an available resource (limited, but renewable) solely on the basis of individual need. At first they get are rewarded for using it, but eventually get diminishing returns.

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Tragedy of the Commons Problem definition

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  1. Tragedy of the CommonsProblem definition • This is about allocation of scare resources and greed. • Individuals use an available resource (limited, but renewable) solely on the basis of individual need. • At first they get are rewarded for using it, but eventually get diminishing returns. • This causes them to intensify their efforts to use what is there. • Eventually the resource is consumed beyond it’s capacity to regenerate • The resource is depleted and no one gets to use it.

  2. Lessons Learned from the Tragedy of the Commons • You can’t solve your own problems in isolation from others. • What’s good for part of the system can be bad for the whole system. • Individual gain may give rise to collective pain. • Everybody does better when everybody does better.

  3. TRAGEDY OF THE COMMONS

  4. Policies to Avert--Continued

  5. Expanded Tragedy of the Commons

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