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 the overconsumption or depletion of a shared resource due to a lack of incentives for individuals to conserve the resource. This results in the resource being exploited at a rate exceeding its natural replenishment rate, leading to depletion or destruction.

One of the Most Notorious Collective Action Problems Involves the Overconsumption