What is the tragedy of the commons

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"The tragedy of the commons" by Garrett Hardin, Science, Dec. 13, 1968 AND Gillis, J. (2014, May 30). A price tag on carbon as a climate resue plan. The New York Times. AND "An exhausting war on emissions" by Leila Abboud, Leila, The Wall Street Journal, Sept. 30, 2008.

1. What is "the tragedy of the commons"?

2. Some propose the use of property rights as a means of eliminating the problems associated with common ownership of resources. Explain why ownership changes behavior.

3. Norway has tried taxing greenhouse gas emissions - has it been successful? Why or why not?

4. Another economic approach to environmental problems is using the marketplace by implementing a cap and trade system. Describe this system and explain why economists like it?

Reference no: EM133302577

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