and Bertrand oligopoly, principal-agent problems, and commons games, among others. …

institutions devised to discourage it. The analytical framework used to explore the symmetric tragedies of the commons and the … and it can be discouraged by the introduction of competition among corrupt agents to turn it into a tragedy of the commons …

We explore commons problems when agents have access to capital markets. The commons has a high intrinsic rate of return … are secure. In a two period model, we assess the consequences of market access for the commons' survival and welfare; we … strategic, extinction dates are unique. Strategic agents generally earn their surplus by delaying the commons' extinction; in …

We study extinction in a commons problem in which agents have access to capital markets. When the commons grows more … quickly than the interest rate, multiple equilibria are found for intermediate commons endowments. In one of these, extinction …' equilibrium, increases it in the other equilibrium in which the commons is eventually depleted, and expands the set of commons …