CC–PP game

The Commonize Costs–Privatize Profits Game (or CC–PP Game) is a concept developed by the ecologist Garrett Hardin to describe a "game" (in the game theory sense) widely played in matters of resource allocation.^[1] The concept is a formalism of the closely related phenomenon known as the Tragedy of the commons,^[2] and is referred to in political discourse as "privatizing profits and socializing losses".

Players of the CC–PP Game aim to commonize the costs (or externalities) generated by their activities across the wider community, while privatizing all profits (financial or otherwise) to themselves.

See also

• Common good (economics)
• Common-pool resource
• Externality
• Lender of last resort
• Moral hazard in finance
• Private good
• Tragedy of the commons

Related concepts

• Lemon socialism
• Privatizing profits and socializing losses
• Socialism for the rich and capitalism for the poor

References

1. ^ Hardin, G. (1985). Filters Against Folly, How to Survive despite Economists, Ecologists, and the Merely Eloquent, Viking Penguin, ISBN 0-670-80410-X
2. ^ Hardin, G. (1968). The Tragedy of the Commons. Science 162, 1243-1248

External links

• Who benefits, who pays?, an extract from Filters Against Folly