Common Pool Resources
Common-pool resources are natural or man-made resources that are rival and subtractable, meaning that one person's use of the resource reduces the availability of the resource for others. Examples of common-pool resources include irrigation systems, fisheries, grazing lands, and groundwater aquifers.
The management of common-pool resources can be challenging, as it is difficult to prevent overuse or depletion of the resource. When a common-pool resource is open to access by many people, it can be subject to the "tragedy of the commons," in which individuals have an incentive to overuse the resource in order to maximise their own short-term gain, even if it is to the detriment of the resource and others in the long-term.
There are several different approaches to common-pool resource management, including centralisation (such as through government regulation), privatisation, and local management by user groups.
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