What are Common Pool resources?

• What are Common Pool resources?:

  • resources that are non excludable but are rivalrous
• What is an example of a common pool resource?

  fish
• What is the tragedy of the commons?

  when individuals act in their own self interest and deplete a shared resource
• Why does the tragedy of the commons occur?

  no one is responsible for managing the resource
• What does the tragedy of the commons lead to?

  overexploitation and depletion of fishes
• How can the government intervene to overcome the tragedy of the commons?

  quotas on fishing