In other words, multiple individuals—acting independently and rationally consulting their own self-interest—will ultimately deplete a shared limited resource, even when it is clear that it is not in anyone’s long-term interest for this to happen. Ostrom believes that the “tragedy” in such situations isn’t inevitable, as Hardin thought. Instead, if the herders decide to cooperate with one another, monitoring each other’s use of the land and enforcing rules for managing it, they can avoid the tragedy

Governing the Commons

Elinor Ostrom on “Tragedy” of the Commons

Same Old Lab