Tragedy of the Commons

Found at: https://hdl.handle.net/10535/5887
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Type:	Book Chapter
Author:	Ostrom, Elinor
Book Title:	The New Palgrave Dictionary of Economics
Publisher:	Palgrave Macmillan
Location:	New York
Page(s):
Date:	2008
URI:	https://hdl.handle.net/10535/5887
Sector:	Social Organization
Region:
Subject(s):	collective action social dilemmas tragedy of the commons common pool resources free riding open access
Abstract:	"The 'tragedy of the commons' arises when it is difficult and costly to exclude potential users from common-pool resources that yield finite flows of benefits, as a result of which those resources will be exhausted by rational, utility-maximizing individuals rather than conserved for the benefit of all. Pessimism about the possibility of users voluntarily cooperating to prevent overuse has led to widespread central control of common-pool resources. But such control has itself frequently resulted in resource overuse. In practice, especially where they can communicate, users often develop rules that limit resource use and conserve resources."

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