The student government associations at several universities have experimented with purchasing bicycles to leave around campus for everyone's use. Anyone who needs the bike can use it, and they are not allowed to lock the bike up or take it home, but rather must leave it on campus for someone else to use. Economic theory would predict that
A) students will take better care of these commonly owned bicycles than they do their own bicycles.
B) students will take equally as good care of these commonly owned bicycles as they do their own bicycles.
C) students will not take as good of care of these commonly owned bicycles as they do their own bicycles.
D) because universities have a lot of money, these bikes will be better maintained than the ones owned privately by college students who tend to have little money.

Question

Quizplus · Accepted Answer

Economic theory suggests that commonly owned resources, like these bicycles, are subject to the "tragedy of the commons," where individuals have little incentive to maintain or take care of them compared to privately owned property.

The Student Government Associations at Several Universities Have Experimented with Purchasing