Individuals rationally pursuing their self-interest but resulting in the mistreatment of common property is often called the
A) tragedy of the commons.
B) profit motive.
C) logic of the commons.
D) single-iteration prisoner's dilemma.

Question

Quizplus · Accepted Answer

The tragedy of the commons describes a situation in which individuals acting in their own self-interest use a shared resource (such as a common pool of fish or water) without regard for the long-term consequences, ultimately leading to depletion or degradation of the resource. This concept was first described by ecologist Garrett Hardin in 1968. The profit motive (B) refers to the desire to make money or maximize profits, which can also contribute to the overuse or depletion of resources. The logic of the commons (C) is not a commonly used term in this context. The single-iteration prisoner's dilemma (D) is a specific game theory scenario in which two players must choose whether to cooperate or defect, but it does not directly relate to the concept of the tragedy of the commons.

Individuals Rationally Pursuing Their Self-Interest but Resulting in the Mistreatment