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If a firm has an incentive to increase supply now and decrease supply in the future, the firm expects that the
Commons Dilemma
A situation in which individuals' short-term selfish interests are at odds with long-term group interests and the common good.
Resource Trap
The situation when a country or region relies heavily on a single natural resource for economic growth, potentially hindering long-term development.
Social Loafing
Social loafing is the tendency of individuals to exert less effort when working in a group compared to when working individually, due to perceived diffusion of personal responsibility.
Altruistic Punishment
A behavior where individuals punish others for breaking societal norms, even at a cost to themselves, to enforce cooperative behavior.
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