The phenomenon where each actor is incentivized to maximize his gain from a public asset at the expense of all others is

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The tragedy of the commons is the concept where multiple actors have access to a public resource, and each actor is incentivized to use as much of it as possible for their own benefit, without regard for the damage caused to the resource as a whole or to other actors. This leads to overuse and depletion of the resource, resulting in negative consequences for everyone involved.

The Phenomenon Where Each Actor Is Incentivized to Maximize His