Common Pool Resources and the Tragedy of the Commons

Front

What are common pool resources?

Back

Resources that are non-excludable but rivalrous in consumption.

Front

What does non-excludable mean in the context of common pool resources?

Back

Anyone can access these resources without having to pay for them.

Front

What does rivalrous mean in the context of common pool resources?

Back

These resources can be used up, reducing the opportunity for others to use them.

Front

What is the tragedy of the commons?

Back

Occurs when common pool resources are used in production in an unsustainable way, creating negative externalities.

Front

What are some negative externalities of production related to common pool resources?

Back

Pollution, environmental damage, and resource depletion.

Front

What are typical examples of common pool resources?

Back

Ocean fishing, communal grazing land, water sources (rivers), natural forests.

Front

What is the Darién Gap?

Back

A region in Panama that is one of the most impregnable rainforests, inhabited by indigenous tribes and illegal loggers.

Front

What valuable resource is being depleted in the Darién Gap?

Back

The Rosewood Cocobolo tree.

Front

How much does the Rosewood Cocobolo tree sell for in Panama and China?

Back

$4,000 per m in Panama and $12,000 per m in China.

Front

What illegal activities are occurring in the Darién Gap?

Back

Illegal logging and the creation of illegal roads for resource extraction.