What causes the Tragedy of the Commons?

A) Social and private incentives are the same.
B) Social and private incentives differ, and common resources are not rival in consumption and are not excludable.
C) Common resources are not rival in consumption and are not excludable.
D) Social and private incentives differ, and common resources are not excludable but are rival in consumption.

Tragedy of the Commons

A situation where individual users, acting independently according to their own self-interest, deplete or spoil shared resources, even though it is not in anyone's long-term interest.

Social Incentives

Motivations that influence an individual's behavior based on social factors, including approval, respect, or the desire to be part of a community.

Private Incentives

The personal benefits or motivations that guide individuals and businesses in making decisions, often driven by the desire for profit or personal satisfaction.