The Fishing Game
Media Type: Lecture Clips Topic: Game Theory, Externalities & Pollution
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This lecture clip from Dirk's class demonstrates the concept of the tragedy of the commons. Student volunteers play the "fishing game" wherein they are asked to fish for bells of varying worth in two rounds of competition. As a result of their fishing efforts, several "species" of bells go extinct due to their higher economic value, and the students demonstrate that economic interest often trumps rationing behavior when they choose to source higher goods from a limited supply.
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