The failure of private incentives to provide adequate maintenance of public resources leads to the tragedy of the commons.

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The tragedy of the commons occurs when individuals, acting in their own self-interest, consume a shared resource (such as air, water, or grazing land) without considering the negative effects on others. Without proper regulations or incentives, individuals have no incentive to conserve or protect the resource. As a result, the resource can be depleted or destroyed, leading to widespread negative consequences. Private incentives alone are often not enough to ensure the sustainable use and maintenance of public resources.

The Failure of Private Incentives to Provide Adequate Maintenance of Public