The tragedy of the commons occurs when an economic good isrivalrousin consumption, non-excludable, scarce, and acommon-pool resource. Each consumer consumes as much as they can as fast as they can before others deplete the good, and no one has the incentive to reinvest in maintaining or r...
The Tragedy of the Commons is a situation in which the consequences of a course of action are shared by a group of people, but the...
One such example is thetragedy of the commons. It may be to everyone’s collective advantage to conserve and reinvest in the propagation of a common pool of natural resources in order to be able to continue consuming it, but each individual always has an incentive to instead consume as much...
In terms of public and private goods, what is meant by "rivalry"? Economics and Goods: In simple economic models we assume that producers create goods that are sold to consumers for direct consumption. In reality thing can be more complicated as consumers enjoy things such as public parks, ...
The nothing-at-stake problem is similar to the tragedy of the commons, an economic theory arguing that individuals who act in their self-interest neglect the well-being of society. When a miner chooses both chains to maximize their returns, the integrity of each chain and thenetworkas a whol...
The problems with managing shared resources such as global commons are sometimes called "the tragedy of the commons," a concept often explored in environmental economics. One problem often mentioned is that while the benefits of a shared resource can be enjoyed fully by each individual, the effect...
The Statue of Unity is a monument which is currently being constructed in order to honor Vallabhbhai Patel, the leader of the Indian independence movement. With a price of several hundred million dollars, there is a large controversy surrounding alternative uses of a sum this high in a poor ...
This ‘public goods’ nature of antimicrobials is summarised by O’Neill [2] as “things that benefit a wide group of people, where that group does not directly pay for their production”. Many procedures and much of the medical industry relies on the existence of functioning antimicrobials, ...
However, there is limited overall bibliometric analysis on this topic. To meet the research need, this study, using Citespace (Citespace5.8r3 version, ChaomMei Chen, Philadelphia), performed the bibliometric analysis of the relationship between green technology innovation and corporate financial ...
Stagflation was once believed to be impossible. The economic theories that dominated academic and policy circles for much of the 20th century ruled it out of their models. In particular, the economic theory of thePhillips Curve, which developed in the context ofKeynesian economics, portrayed macroec...