17. The Tragedy of the Commons Flashcards

1
Q

What are collective action games?

A

Games with more than two players

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2
Q

How can collective action games be simplified?

A

Assume a community of players who share strategies and payoffs

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3
Q

What is a free rider?

A

Someone who benefits from collective action without contributing

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4
Q

What is a social dilemma?

A

A game where the equilibrium isn’t Pareto-optimal

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5
Q

What is the shirking paradox?

A

It may be optimal for some players to shirk

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6
Q

What is the tragedy of the commons?

A

A collective prisoners’ dilemma, many people acting collectively destroy a shared resource

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