1. SUSTAINABILITY AND THE TRAGEDY OF THE COMMONS. A NEW PERSPECTIVE.
- Author
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VREJA, Lucia Ovidia, BĂLAN, Sergiu, and MAVRODIN, Cristina
- Subjects
- *
SUSTAINABLE development , *ECONOMIC development , *ECONOMICS , *SUBSISTENCE farming , *SUBSISTENCE economy - Abstract
The "tragedy of the commons", as part of the mainstream economic theory, assumes that the selfish and rational human nature will lead to the depletion of essential resources (such as water, air, subsistence items, etc.) in the absence of well-defined property rights, formal, top-down management institutions, rules of access and exploitation. Nevertheless, evolutionary theory advances a new model of individual behaviour, based on altruism and cooperation that could lay the foundation of new types of institutions for managing the commons for the long-term benefit of the group or society. Reviewing the relevant literature that identifies instances of cooperation and successful management of the commons, the paper brings into light the essential conditions necessary for a responsible exploitation of a common resource. [ABSTRACT FROM AUTHOR]
- Published
- 2016