AEM 250 Lec 15 Tragedy of the Commons 9-29-10 sv

AEM 250 Lec 15 Tragedy of the Commons 9-29-10 sv -...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Precursors: Hardin “Tragedy” Was Not the First to ddress Commons Problem Address Commons Problem •A r i s t o t l e ( Politics , Book II, Ch. 3) hat is common to the greatest number has the least care bestowed what is common to the greatest number has the least care bestowed upon it. Everyone thinks chiefly of his own, hardly at all of the common interests” ordon 954, “The Economic Theory of a Common Property Resource: The Fishery”, JPE , p. 124) Gordon (1954, The Economic Theory of a Common Property Resource: The Fishery , JPE , p. 124) “There appears then, to be some truth in the … dictum that everybody’s property is nobody’s property. Wealth that is free for all is valued by no one because he who is foolhardy enough to wait for its proper time of use will only find that it has been taken by another… The fish in the sea are valueless to the fisherman, because there is no assurance that they will be there for him tomorrow if they are left behind today” Olson (1965, The Logic of Collective Action , p. 2) “…unless there is coercion or some other special device to make individuals act in the common interest, rational, self-interested dividuals will not act to achieve their common or group interest ” individuals will not act to achieve their common or group interest.
Background image of page 2
Economic References in Hardin • Thomas Malthus (1798, An Essay on the Principle of Population) “Population, when unchecked increases in a geometrical ratio. ubsistence increases in an arithmetical ratio ” Subsistence increases in an arithmetical ratio. Jeremy Bentham (1748-1832) “ t the greatest good to the greatest number of eople hich is e It is the greatest good to the greatest number of people which is the measure of right and wrong.” Greatest happiness principle: An action is desirable “when the tendency it has to augment the happiness of the community is greater than any it has to diminish it.” ( Introduction to the Principles of Morals and Legislation, 1789)
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/20/2010 for the course AEM 25 at Cornell University (Engineering School).

Page1 / 15

AEM 250 Lec 15 Tragedy of the Commons 9-29-10 sv -...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online