Concept: common resource

A common resource is a type of good consisting of a natural or human-made resource system, whose size or characteristics makes it costly, but not impossible, to exclude potential beneficiaries from obtaining benefits from its use. Unlike pure public goods, common resources face problems of congestion or overuse, because they are rival. Examples of common resources include irrigation systems, fishing grounds, pastures, forests, water or the atmosphere.

The Cheever Letters icon

The Cheever Letters

common resource

The Hamptons icon

The Hamptons

common resource

The Parking Space icon

The Parking Space

common resource | non-excludable goods | property rights | rival goods

The Suicide icon

The Suicide

common resource | reservation wage | supply of labor

The Parking Garage icon

The Parking Garage

common resource | cost-benefit analysis | thinking at the margin