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Notable economists. Lists. Business portal. Money portal. v. t. e. The tragedy of the commons is a concept which states that if many people enjoy unfettered access to a finite, valuable resource, such as a pasture, they will tend to overuse it and may end up destroying its value altogether. Even if some users exercised voluntary restraint, the ...
Garrett James Hardin (April 21, 1915 – September 14, 2003) was an American ecologist and microbiologist.He focused his career on the issue of human overpopulation, and is best known for his exposition of the tragedy of the commons in a 1968 paper of the same title in Science, [1] [2] [3] which called attention to "the damage that innocent actions by individuals can inflict on the environment ...
The tragedy of the anticommons is a type of coordination breakdown, in which a commons does not emerge, even when general access to resources or infrastructure would be a social good. It is a mirror-image of the older concept of tragedy of the commons, in which numerous rights holders' combined use exceeds the capacity of a resource and ...
William Appleman Williams (June 12, 1921 – March 5, 1990) was one of the 20th century's most prominent revisionist historians of American diplomacy. He achieved the height of his influence while on the faculty of the department of history at the University of Wisconsin–Madison and is considered to be the foremost member of the "Wisconsin School" of diplomatic history.
The Commonize Costs–Privatize Profits Game (or CC–PP Game) is a concept developed by the ecologist Garrett Hardin to describe a "game" (in the game theory sense) widely played in matters of resource allocation. [1] The concept is Hardin's interpretation of the closely related phenomenon known as the tragedy of the commons, [2] and is ...
The tragedy of the commons was originally mentioned in 1833 by the Victorian economist William Forster Lloyd, who was a member of the Royal Society . He offered the example of a hypothetical tract of shared grazing land, in which all of the villagers brought their cows to this common grazing space, resulting in overgrazing and the depletion of ...
A commons failure theory, now called tragedy of the commons, originated in the 18th century. [10] In 1833 William Forster Lloyd introduced the concept by a hypothetical example of herders overusing a shared parcel of land on which they are each entitled to let their cows graze, to the detriment of all users of the common land. [44]
Collective action problem. A collective action problem or social dilemma is a situation in which all individuals would be better off cooperating but fail to do so because of conflicting interests between individuals that discourage joint action. [1][2][3] The collective action problem has been addressed in political philosophy for centuries ...