A village has a common pasture that everyone is allowed to use for their livestock. Because no one owns the pasture, each person has an incentive to let their livestock eat as much as they can. Because of this the pasture is barren within a year. This is an example of
A) a Malthusian Dilemma.
B) a Prisoner's Dilemma.
C) a resource curse.
D) the time horizon problem.
E) the tragedy of the commons.
E
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