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Keyword: tragedy of the commons


Cheap Pearls (2/16/2001)

Far from increasing consumer surplus, falling prices for luxury goods such as freshwater pearls due to overproduction reduce both consumer surplus and producer profit.

Keywords: cartel, De Beers, diamonds, fresh water pearls, luxury appeal, monopoly, paradox of plenty, prices, scarcity, Shanxiahu, snob appeal, snob effect, tragedy of the commons

Commission Rush (5/9/2006)

Excessive entry of residential real-estate brokers has resulted in lowering the median income of brokers rather than the commission rate.

Keywords: commission, competition, excessive entry, median income, real-estate brokers, realtors, tragedy of the commons

Fished Out! (2/9/2001)

By assigning fishing quotas to individual fisherman, Iceland has solved the problem of over-exploitation typically associated with open access to common-pool resources.

Keywords: common-pool resources, Iceland, Individual Transferable Quotas (ITQs), negative externalities, open access fishery, over-extraction, over-fishing, property rights, returns to capital, tragedy of the commons

Market Entry (7/7/2006)

Barriers to market entry result in different market structure.

Keywords: barrier, capacity, capital, De Soto, durable goods, excessive entry, financing, innovative products, kickbacks, Market entry, market structure, mature products, patent, product cycle, profit, replacement purchases, tragedy of the commons, underground economy, World Bank

Maximization and Optimization at the Margin (7/7/2006)

Optimizing at the margin can bring about static economic efficiency.

Keywords: average benefit, entry, margin, marginal benefit, marginal cost, marginal revenue, Maximization, MB, MC, MR, optimization, pollution, profit, single pricing, tragedy of the commons

The Tragedy of the Popsicle Commons (2/15/2001)

Over-exploitation of commons resources could be avoided if the rights to commonly owned resources are assigned to individual owners.

Keywords: common property, common-pool resources, fishery depletion, Popsicles, private property, privatizing, tragedy of the commons