The tragedy of the commons is an economics theory by Garrett Hardin, according to which individuals, acting
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Question:
The tragedy of the commons is an economics theory by Garrett Hardin, according to which individuals, acting independently and rationally according to each one's self-interest, behave contrary to the whole group's long-term best interests by depleting some common resource.
Intuitively, this seems correct that self-interest would lead to overuse under the assumption that others would do the same.
Have there been any strong counter-theories that argue that people would act in a "sub-optimal" way for the betterment of the community?
Related Book For
International Business Law And Its Environment
ISBN: 9781305972599
10th Edition
Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge
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