3. Is the tragedy of the commons solved or caused by private property? identify your meta-theory...

3. Is the tragedy of the commons solved or caused by private property? identify your meta-theory foundation

Solutions

Expert Solution

The tragedy of commons is a phenomenon that occurs in common resources such as grazing lands , fish in oceans etc . Such common resources are rival in consumption but not excludable . The part of fish that is caught by one fisherman cannot be caught by another , this is rivalry in consumption . But a non-paying fisherman cannot be stopped from fishing or no one can be prevented from catching fish . This is non excludability .

So this causes each fisherman to work for their own self interest rather than for common good . each one tries to catch as much fish as early as possible to increase their own share before the fish gets exhausted . This leads to over fishing and depletion of natural balance . This is termed as tragedy of commons .

Privatization of property actually solves this problem because we know that a private good is both rival and excludable . If fishing permit is sold to a private company who sells permits to fishermen for fishing then fishermen who are not paying for permits will not be allowed to catch fish . Also the private company will try to stay in business for long time and hence will set limits on fishermen .

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Overfishing is caused by the “Tragedy of the Commons.” Explain why.

Garrett Hardin's economics theory, The tragedy of the commons, cites dilemmas that occur when individuals act...

Garrett Hardin's economics theory, The tragedy of the commons, cites dilemmas that occur when individuals act out of their own self interest and deplete common resources needed by others. Identify and discuss current examples of this economic theory.

Consider what you read in The Tragedy of Commons and write a 2 to 3 page...

Consider what you read in The Tragedy of Commons and write a 2 to 3 page paper describing how Hardin formulates the population problem. Evaluate his assumptions and his solutions in light of other evidence from the course.

a) Explain in your own words the Tragedy of the Commons. b) Discuss where you have...

a) Explain in your own words the Tragedy of the Commons. b) Discuss where you have observed the "Tragedy of the Commons" in your own life, the news, or history. c) How would you address the issue that you discussed in item "b" with one of the suggestions from Ostrom

Identification of a Communication Theory: Uncertainty Reduction Theory Meta-theoretical Assumptions: How would the author of your...

Identification of a Communication Theory: Uncertainty Reduction Theory Meta-theoretical Assumptions: How would the author of your theory define communication? Which of the 7 issues in defining communication discussed in class would be most important to the author of your theory? How do you know?

According to the theory called Tragedy of the Commons, certain public resources such as oceans or national parks will inevitably be subject to over use and perhaps eventual depletion of their resources.

According to the theory called Tragedy of the Commons, certain public resources such as oceans or national parks will inevitably be subject to over use and perhaps eventual depletion of their resources. What is meant by defining these resources as “the commons” and what sort of remedies have been proposed by economists to deal with this problem of over usage or over exploitation?

1) What are private property rights? Why are private property rights so important? In your answer,...

1) What are private property rights? Why are private property rights so important? In your answer, please emphasize the role of private property rights incentives. 2) Elaborate upon the role that well-defined private property rights plays in business. How can organizations adjust how they approach the enforcement of property rights given their overall strategy and placement within the market?

Not all externality problems can be solved by the private sector. True or False? Explain your...

Not all externality problems can be solved by the private sector. True or False? Explain your answer making reference to the Coase Theorem.

3- Identify one problem that was solve mechanically. Then another problem that was solved by understanding....

3- Identify one problem that was solve mechanically. Then another problem that was solved by understanding. (4,5, total 9Marks). 4-Give an example of each type of memory. (Each 1, total 5Marks) Sensory. Short-term. Procedural. Semantic. Episodic

Post an explanation of the role of theory in research. Next, identify a theory in your...

Post an explanation of the role of theory in research. Next, identify a theory in your Psychology and explain its basic tenets. Then, with this theory in mind, consider your answer to the following question posed by Dr. Burkholder in last week’s reading: “What do I have to believe about the world and about human beings in order for me to accept or use this theory?” Finally, describe the extent to which the epistemological and ontological assumptions of your chosen...

Subjects