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The Tragedy of the Commons

Lecture no. 17 from the course: Games People Play: Game Theory in Life, Business, and Beyond

The Tragedy of the Commons

Taught by Professor Scott P. Stevens | 30 min | Categories: The Great Courses Plus Online Economics & Finance Courses

You explore what is essentially a many-player version of Prisoner's Dilemma. Each player's self-interested choices ironically contribute to a social dilemma in which every player suffers, in a scenario equally applicable to topics as diverse as global warming, traffic congestion, and the use of almost any nonrenewable resource.


August 28, 2016
Deserves five stars just for the accent at minute 13