What assumptions are made in the simple tragedy

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Question: The prisoner's dilemma and tragedy of the commons are very simple conceptual models of human behavior that are sometimes used to guide real human endeavors (e.g. used to justify sometimes disastrous economic policies). What assumptions are made in the simple tragedy of the commons model that are often wrong? Instead of privatization or government oversight, what are ways of dealing with problems of open access? Provide examples.

Reference no: EM133290402

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