generated at
tragedy of the commons
Bounded rationality – Theory of non-optimal decision-making
Collective action problem – Type of social dilemma
Conflict of interest – Ethically disputed practice
Dutch disease – Theory in economics, the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture).
Externality – In economics, an imposed cost or benefit
Credentialism and educational inflation – Demands for educational qualifications
The Evolution of Cooperation – 1984 book by Robert Axelrod
Free-rider problem – Market failure benefitting non-paying users
Nash equilibrium – Solution concept of a non-cooperative game
Overfishing – Removal of a species of fish from water at a rate that the species cannot replenish
Shark finning – Harvesting of fins from live sharks
Pacific bluefin tuna – Species of fish
Panic buying – Unusual pattern of purchase, when consumers buy unusually large amounts of a product in anticipation of, or after, a disaster or perceived disaster, or in anticipation of an incredibly large price increase or shortage.
Parasitism (social offense) – Crime of living at the expense of others
Prisoner's dilemma – Standard example in game theory, wherein two parties may each act in an individually beneficial fashion to the detriment of both
Race to the bottom – Deregulation to attract economic activity
Resource curse – Theory that resource wealth slows growth
Social trap – Type of 'tragedy of the commons'
Somebody else's problem – Dismissive figure of speech
Stone Soup – European folk story, the inverse of the tragedy
Tragedy of the anticommons – Type of resource coordination breakdown
tyranny of small decisions – Economic phenomenon, a situation in which a number of decisions, individually small and insignificant in size and time perspective, cumulatively result in a larger and significant outcome which is neither optimal nor desired.
Unscrupulous diner's dilemma – Game theory: n-player "prisoner's dilemma"
Unintended consequences – Unforeseen outcomes of an action
Volunteer's dilemma – Game theory case weighing own/others' sacrifice, in which each player can either make a small sacrifice that benefits everybody, or instead wait in hope of benefiting from someone else's sacrifice
Related concepts
enclosure – In England, appropriation of common land, depriving commoners of their ancient rights