The tragedy of commons is due to:
A)excessive cooperation to extract maximum group profits.
B)a failure to cooperate so that all players take only their fair share.
C)a failure to reach a Nash equilibrium.
D)demand exceeding supply when payoffs are considered.

Question

Quizplus · Accepted Answer

The tragedy of commons occurs when individuals or groups use a shared resource for their own benefit without considering the effect it has on others, resulting in depletion or destruction of the resource. This is a result of a failure to cooperate and take only their fair share, as stated in option B.

The Tragedy of Commons Is Due To