Topics
Common Pool Resources
Common-pool resources are natural or man-made resources that are rival and subtractable, meaning that one person's use of the resource reduces the availability of the resource for others. Examples of common-pool resources include irrigation systems, fisheries, grazing lands, and groundwater aquifers.
The management of common-pool resources can be challenging, as it is difficult to prevent overuse or depletion of the resource. When a common-pool resource is open to access by many people, it can be subject to the "tragedy of the commons," in which individuals have an incentive to overuse the resource in order to maximise their own short-term gain, even if it is to the detriment of the resource and others in the long-term.
There are several different approaches to common-pool resource management, including centralisation (such as through government regulation), privatisation, and local management by user groups.
See also
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IB Economics - Common Access Resources
Study Notes
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Tragedy of the Commons - Over-harvesting hit Texas oysters
29th November 2023
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Social Capital and Resource Management - Reforestation in Nepal
13th February 2023
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Sustainable Development - World Bank Videos on Sustainable Fishing
11th February 2023