17. The Tragedy of the Commons Flashcards
1
Q
What are collective action games?
A
Games with more than two players
2
Q
How can collective action games be simplified?
A
Assume a community of players who share strategies and payoffs
3
Q
What is a free rider?
A
Someone who benefits from collective action without contributing
4
Q
What is a social dilemma?
A
A game where the equilibrium isn’t Pareto-optimal
5
Q
What is the shirking paradox?
A
It may be optimal for some players to shirk
6
Q
What is the tragedy of the commons?
A
A collective prisoners’ dilemma, many people acting collectively destroy a shared resource
