What does the term "the tragedy of the commons" mean?

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"The tragedy of the commons" refers to the concept that when a commonly held resource (such as a forest or ocean) is open to all to exploit or use, individuals will act in their own self-interest and overuse or damage the resource, leading to its eventual depletion or degradation. This occurs because the individuals using the resource do not bear the full costs of their actions, as those costs are spread among all users. In the context of international relations, this can refer to situations where states are reluctant to bear individual costs (such as reducing emissions) to protect a common resource (such as the environment).

What Does the Term "The Tragedy of the Commons" Mean