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Commons Tragedies - page 14 / 32

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“Commons”

  • A common pool resource is, in an economic terminology, a ‘good’ with

    • “Non-excludability”, i.e., easy/shared access, and

    • “Subtractibility”, i.e., consumption of the good is subtracted from the pool of available resources, so that the availability of the good declines.

  • In general, CPR-problems arise where individual behavior affects others in the commons collective.

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