EVERYDAY SCIENCE

Detailed explanation-1: -What Is the Tragedy of the Commons? The tragedy of the commons refers to a situation in which individuals with access to a public resource (also called a common) act in their own interest and, in doing so, ultimately deplete the resource.

Detailed explanation-2: -tragedy of the commons, concept highlighting the conflict between individual and collective rationality. The idea of the tragedy of the commons was made popular by the American ecologist Garrett Hardin, who used the analogy of ranchers grazing their animals on a common field.

Detailed explanation-3: -The tragedy of the commons is an economic theory that postulates that individuals tend to exploit shared resources such that the demand greatly outweighs supply, and subsequently, the resource becomes unavailable for the whole.

Detailed explanation-4: -The rate at which depletion of the resource is realized depends primarily on three factors: the number of users wanting to consume the common in question, the consumptive nature of their uses, and the relative robustness of the common.