The tragedy of the commons is an economics problem where every individual has an incentive to consume a resource, but at the expense of every other individual – with no way to exclude anyone from consuming. For example, consider when property owners within a neighborhood open a business, such as vacation rental. While the absent owner pays no price, the neighbors sacrifice personal safety and loss of peaceful enjoyment of their property. Read the article………………………..
Related Post
April 1, 2022
January 31, 2022
December 22, 2022
June 2, 2015
Comments are closed.