One of the most notorious collective action problems involves the overconsumption of a shared resource and is called the

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The tragedy of the commons refers to a situation where multiple individuals have access to a shared resource, but because there is no ownership over it, there is a tendency for overconsumption to occur as each person seeks to maximize their own benefit. This results in the depletion of the resource, which ultimately harms everyone. It is a classic example of a collective action problem, where individual actions have negative consequences for the group as a whole.

One of the Most Notorious Collective Action Problems Involves the Overconsumption