Economics Ecosystem Services Questions
The tragedy of the commons refers to a situation where a shared resource, such as a common grazing land or a fishery, is overexploited or depleted due to individual self-interest and lack of coordination. In this scenario, each individual user has an incentive to maximize their own benefit from the resource, leading to its degradation or depletion, ultimately harming the collective well-being. This concept highlights the challenges of managing and preserving common resources without proper regulations or mechanisms to prevent overuse.