6 terms

tragedy of the commons

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who is the author of tragedy of the commons essay
Garrett Hardin in 1968
definition of a 'common'
A resource that is free and available to everyone
effect of the tragedy of the commons
degradation or depletion of a resource if individuals use more than their share (or add more pollution)
3 strategies for avoiding tragedy of the commons
1. regulation or restriction on the use of the resource
2. introduce a quota system to limit acquisition of the resource (or cap and trade system for pollution)
3. privatization of the resource
4 examples of tragedy of commons
1. overfishing of cod or atlantic tuna in the ocean
2. increased carbon dioxide emissions into the atmosphere
3. ground and surface water use by landowners
4. logging in tropical forests
cause of the tragedy of the commons
individuals act from self interest for short term gain; each individual reasons that if he/she doesn't use the resource someone else will
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