Tragedy of the Commons
Details
This time, I would like to invite you to a discussion about common goods and externalities. We will start with a brief application of game theory and then use the derived model to explore some current economic issues, such as population growth and environmental pollution.
The essay for the discussion is:
Hardin, G (1968). "The Tragedy of the Commons". Science. 162 (3859): 1243–1248.
Familiarity with the article is obligatory (you welcome to use any tools/LLMs).