Hardin’s Tragedy of the Commons (http://en.wikipedia.org/wiki/Tragedy_of_the_commons)
Individuals acting independently and rationally according to each’s self-interest behave contrary to the best interests of the whole group by depleting some common resource.
It’s a prisoner’s dilemma and an arms race because two parties use an increasing amount of common resources simply to remain at a competitive advantage.
Conserve 3,3 1,4
Squander 4,1 2,2
It can also be displayed as a Hawk-Dove Game where each party hopes to gain through aggressive strategies, but if both (all) act aggressively they cause serious damage. In this table, passive would be conserving and aggressive would be squandering.
Passive 3,3 1,5
Aggressive 5,1 0,0
Hardin offered no technical solutions to the tragedy of the commons and instead argued they require changes in human attitudes and behavior, such as sustainable development of our common resources, rather than neglecting them. This falls in line with the authors of our book who proposed social convention to predict the outcome of the game. By altering the social convention, a dominant strategy can emerge.