1. The Tragedy of the Commons
... , and individuals in the group have incentive to "free-ride" to achieve their personal goals. The idea of the tragedy of the commons, game theory, and the problem of collective action combined can be useful in understanding politics as a whole. The tragedy of the commons was first published in 1968, and since then it has been applied to social, economic, and political situations ... country, and the various outcomes that result as to what strategy each country chooses. Each choice has benefits and costs, and the choice of the other country is not immediately known. The game theory can be...
- Word Count: 1485
- Approx Pages: 6
- Grade Level: Undergraduate