2.8.4—Common pool resources

A common pool resource is rival but difficult to exclude users from, so individual extraction can deplete the shared stock.

Open access creates a “tragedy of the commons” when users ignore the cost imposed on others and future users.

Identify rivalry, exclusion difficulty and the governance rule that could protect the stock.

An open fishery may be overharvested because each boat gains while depletion is shared.

Common pool is not the same as a public good: rivalry matters.