Random Priority: A Probabilistic Resolution of the Tragedy of the Commons

Hervé Moulin (1, 2) , Hervé Crès (3)

1 University of Glasgow
2 CES - Centre d'économie de la Sorbonne
3 ECON - Département d'économie (Sciences Po)

The celebrated "tragedy of the commons" arises when a certain technology with increasing marginal cost is the common property of its users. Examples include the exploitation of fisheries and other natural resources, as well as queuing problems where users want a service and the externalities result from congestion.

Domains: Humanities and Social Sciences; Economics and Finance

Hervé Moulin, Hervé Crès. Random Priority: A Probabilistic Resolution of the Tragedy of the Commons. 2022. ⟨hal-03598177⟩