Picture a pasture open to all (...) As a rational being, each herdsman seeks to maximize his gain. Explicitly or implicitly, more or less consciously, he asks, "What is the utility to me of adding one more animal to the herd?" This utility has one negative and one positive component. 1) The positive component is a function of the increment of one animal. Since the herdsman receives all the proceeds from the sale of the additional animal, the positive utility is nearly +1. 2) The negative component is a function of the additional overgrazing created by one more animal. Since, however, the effects of overgrazing are shared by all the herdsmen, the negative utility for any particular decision-making herdsman is only a fraction of -1. Adding together the component partial utilities, the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to the herd. And another; and another...
Digital cows grazing on digital grounds. Publishing Authors By Initials
Digital cows grazing on digital grounds. Journal Published:
PUBLICATION TYPE: Research Support, U.S. Gov't,
Journal: Current biology : CB
VOLUME: 16
Page Numbers: R946-9
Journal Abbreviation: Curr. Biol.
ISSN: 0960-9822
DAY: 21
MONTH: Nov
YEAR: 2006
Digital cows grazing on digital grounds. Information
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LANGUAGE: eng
NlmUniqueID: 9107782
Digital cows grazing on digital grounds. Keywords Mesh Terms:
KEYWORDS: Software
MESH TERMS: trends
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Grant and Affiliation Information for Digital cows grazing on digital grounds.
AFFILIATION: Program for Evolutionary Dynamics, Department of Organismic and Evolutionary Biology, Harvard University, Cambridge, Massachusetts 02138, USA. pfeiffer@fas.harvard.edu
Country: England
AGENCY: United States NIGMS
GRANT: R01 GM078986-01
ACRONYM: GM
MEDLINETA: Curr Biol
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