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Random Priority: A Probabilistic Resolution of the Tragedy of the Commons

Author

Listed:
  • Crès, Hervé
  • Moulin, Hervé

Abstract

The celebrated "tragedy of the commons" arises when a certain technology with increasing marginal cost is the common property of its users. Examples include the exploitation of fisheries and other natural resources, as well as queuing problems where users want a service and the externalities result from congestion.

Suggested Citation

  • Crès, Hervé & Moulin, Hervé, 1998. "Random Priority: A Probabilistic Resolution of the Tragedy of the Commons," Working Papers 98-06, Duke University, Department of Economics.
  • Handle: RePEc:duk:dukeec:98-06
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    Cited by:

    1. Lars Ehlers & Bettina Klaus, 2003. "Probabilistic assignments of identical indivisible objects and uniform probabilistic rules," Review of Economic Design, Springer;Society for Economic Design, vol. 8(3), pages 249-268, October.
    2. Ehlers, Lars & Peters, Hans & Storcken, Ton, 2002. "Strategy-Proof Probabilistic Decision Schemes for One-Dimensional Single-Peaked Preferences," Journal of Economic Theory, Elsevier, vol. 105(2), pages 408-434, August.

    More about this item

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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