Tragedy of the Commons
Tragedy of the Commons is a situation where individuals, acting in their own self-interest, overuse and deplete a shared resource, harming the group as a whole.
How to Use
- Recognize shared resources and potential for overuse
- Implement rules or incentives to manage resources sustainably
- Useful in environmental science, economics, and public policy
Application
- Explains overfishing, pollution, and resource depletion