The Tragedy of the Commons
- Title:
- The Tragedy of the Commons
- Description:
-
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In this video, we take a look at common goods. Common resources are nonexcludable but rival. For instance, no one can be excluded from fishing for tuna, but they are rival — for every tuna caught, there is one less for everyone else. Nonexcludable but rival resources often lead to what we call a “tragedy of the commons.” In the case of tuna, this means the collapse of the fishing stock. Under a tragedy of the commons, a resource is often overused and under-maintained. Why does this happen? And how can we solve this problem? Like we’ve done so many times throughout this course, let’s take a look at the incentives at play. We also discuss Nobel Prize Winner Elinor Ostrom’s contributions to this topic.
Microeconomics Course: http://bit.ly/20VablY
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- Video Language:
- English
- Team:
- Marginal Revolution University
- Project:
- Micro
- Duration:
- 10:36
Rita Jonyer edited Hungarian subtitles for The Tragedy of the Commons | ||
Rita Jonyer edited Hungarian subtitles for The Tragedy of the Commons | ||
Rita Jonyer edited Hungarian subtitles for The Tragedy of the Commons | ||
Rita Jonyer edited Hungarian subtitles for The Tragedy of the Commons | ||
Rita Jonyer edited Hungarian subtitles for The Tragedy of the Commons | ||
Fran Ontanaya edited Hungarian subtitles for The Tragedy of the Commons | ||
Fran Ontanaya edited Hungarian subtitles for The Tragedy of the Commons | ||
Daniela Tiranti edited Spanish subtitles for The Tragedy of the Commons |