{"id":35654,"date":"2016-08-24T02:00:59","date_gmt":"2016-08-24T06:00:59","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=35654"},"modified":"2020-01-19T11:57:54","modified_gmt":"2020-01-19T16:57:54","slug":"the-tragedy-of-the-commons","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2016\/08\/24\/the-tragedy-of-the-commons\/","title":{"rendered":"The Tragedy of the Commons"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/bs2P0wRod8U\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 26 Jun 2015<\/strong><\/p>\n<p>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 \u2014 for every tuna caught, there is one less for everyone else. Nonexcludable but rival resources often lead to what we call a \u201ctragedy of the commons.\u201d 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\u2019ve done so many times throughout this course, let\u2019s take a look at the incentives at play. We also discuss Nobel Prize Winner Elinor Ostrom\u2019s contributions to this topic.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 26 Jun 2015 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 \u2014 for every tuna caught, there is one less for everyone else. Nonexcludable but rival resources often lead to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[755,1026,1143,217,1342],"class_list":["post-35654","post","type-post","status-publish","format-standard","hentry","category-economics","tag-incentives","tag-microeconomics","tag-principlesofeconomics","tag-rights","tag-tragedyofthecommons"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-9h4","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=35654"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35654\/revisions"}],"predecessor-version":[{"id":35655,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35654\/revisions\/35655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=35654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=35654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=35654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}