The tragedy of the commons refers to a situation where individuals acting in their own self-interest can ultimately deplete a shared limited resource. When people have access to a common resource, each person is incentivized to consume as much as possible of that resource for personal benefit, even if it means exhausting the resource. This can happen because individuals prioritize short-term gains for themselves without regard for how their actions impact others or the long-term sustainability of the resource. Without regulations or transparency, people have no incentive to restrain themselves for the good of the group.
The tragedy of the commons refers to a situation where individuals acting in their own self-interest can ultimately deplete a shared limited resource. When people have access to a common resource, each person is incentivized to consume as much as possible of that resource for personal benefit, even if it means exhausting the resource. This can happen because individuals prioritize short-term gains for themselves without regard for how their actions impact others or the long-term sustainability of the resource. Without regulations or transparency, people have no incentive to restrain themselves for the good of the group.
The tragedy of the commons refers to a situation where individuals acting in their own self-interest can ultimately deplete a shared limited resource. When people have access to a common resource, each person is incentivized to consume as much as possible of that resource for personal benefit, even if it means exhausting the resource. This can happen because individuals prioritize short-term gains for themselves without regard for how their actions impact others or the long-term sustainability of the resource. Without regulations or transparency, people have no incentive to restrain themselves for the good of the group.
The tragedy of the commons refers to a situation in which individuals with access to a
shared resource (also called a common) act in their own interest and, in doing so, ultimately deplete the resource. As you can see in this image all the people are the prisoners of social media. But this is the way they act according to their personal interest regardless of the negative impact they may have on others. An individual’s belief that others won’t act in the best interest of the group can lead them to justify their selfish behavior. When facing the use or potential overuse of a common or public good, individuals may act with their short-term best interest in mind, for instance, using an unsustainable product, and disregard the harm it could cause to the environment or general public. The tragedy of commons is important in this kind of situation and in this of point of time because they can give their opinion and how they feel about things that’s need attention but also, there are some consequence of to much using it. Because other tends to use it in wrong doings like scamming and bullying others. The tragedy of the commons shows us how, without some sort of regulation or public transparency of choices and actions associated with public goods, there's no incentive for individuals to hold themselves back from taking too much. In fact, individuals may even have a “use it or lose it” mentality; if they’re aware of the inevitability that the good itself will be depleted, they may think, “I better get my share while I still can.”