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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.
Lloyd published several of his lectures. In his Two Lectures on the Checks to Population (1833) he introduced the concept of the overuse of a common by its commoners (i.e. those with rights of use and access to it), which was later to be developed by the economist H. Scott Gordon and later still by the ecologist Garrett Hardin and termed by Hardin "The Tragedy of the Commons".
The same concept has been called the "tragedy of the fishers", when over-fishing could cause stocks to plummet. [49] Forster's pamphlet was little known, and it wasn't until 1968, with the publication by the ecologist Garrett Hardin of the article "The Tragedy of the Commons", [50] that the term gained relevance. Hardin introduced this tragedy ...
Hardin's (1968) concept of the tragedy of the commons popularized the challenges involved in non-exclusion and common property. "Commons" refers to the environmental asset itself, "common property resource" or "common pool resource" refers to a property right regime that allows for some collective body to devise schemes to exclude others ...
A common good is rivalrous and non-excludable, meaning that anyone can use the resource but there is a finite amount of the resource available and it is therefore prone to overexploitation. [24] The paradigm of the tragedy of the commons first appeared in an 1833 pamphlet by English economist William Forster Lloyd. According to Lloyd, "If a ...
This is also known as a common property resource, impure public good or sometimes erroneously as a common pool resource. [13] A common pool resource however is often managed the group of people that have access to that resource [14]. Examples of this can be air, water, sights, and sounds. Tragedy of the commons refers to this title. An example ...
Hardin's 1968 "Tragedy of the Commons" article calls attention to the problem of human overpopulation, and describes his perception of the current prevailing sentiment, which he asserts was influenced by Adam Smith's invisible hand concept of economics, leading to a general belief "that decisions reached individually will, in fact, be the best decisions for an entire society."
The application of behavioral psychology terms to behaviors in the tragedy of the commons led to the realization that the same short-term versus long-term cause-and-effect relationship also applied to other human traps, in addition to the exploitation of commonly held resources.