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Economics and the Tragedy of the Commons
In both macroeconomics and microeconomics principles courses, economists teach the virtue of markets as an allocative mechanism. But markets sometimes fail. This example allows students to simulate the market failure associated with a common property resource, a salmon fishery, and evaluate ways to control fishing. The simulation also shows the distributional results of different allocative mechanisms. ...
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More about this material
- Material Type:
- Simulation
- Date Added to MERLOT:
- December 29, 2022
- Date Modified in MERLOT:
- January 2, 2023
- Author:
- Betty J. Blecha, San Francisco State University
- Submitter:
-
Cathy Swift
- Primary Audience:
- College General Ed, College Lower Division
- Technical Format:
- Website
- Mobile Compatibility:
- Not specified at this time
- Language:
- English
- Cost Involved:
- No
- Source Code Available:
- Unknown
- Creative Commons:
-
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International
