Economics
Textbooks
Boundless Economics
Market Failure: Public Goods and Common Resources
Economics Textbooks Boundless Economics Market Failure: Public Goods and Common Resources
Economics Textbooks Boundless Economics
Economics Textbooks
Economics

Section 2

Common Resources

Book Version 3
By Boundless
Boundless Economics
Economics
by Boundless
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2 concepts
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The Tragedy of the Commons

The tragedy of the commons is the overexploitation of a common good by individual, rational actors.

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The Free-Rider Problem

The free-rider problem is when individuals benefit from a public good without paying their share of the cost.

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