Intuition
Published in

Intuition

Mathematics

Tragedy Of The Commons

Microeconomics and Calculus

Photo by Daniel Quiceno M on Unsplash

In today’s entry, we will take a close look at a microeconomic theory known as the tragedy of the commons. In general, it refers to the scenario in which every individual exploits natural resources according to their self-interests unsustainably, at the expense of other population members, culminating in a tremendous loss for that…

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