00:01
So here we're wondering whether these resources are public good, common pool resource, or neither.
00:06
So public good, and then common pool resource.
00:18
Okay, so what's the difference between these? by definition, they're both not excludable, right? but the difference is their rivalry property.
00:30
So these can be consumed without decreasing availability.
00:39
For others.
00:45
Okay, so common pool resource will decrease resources available to others.
00:54
Decrease availability, right? okay.
00:59
So the problems with each, what happens is public good has people who just don't take responsibility, who just kind of use it, and common pool resource has people who will overuse it and decrease availability.
01:16
So each one, a pot of whales in ocean to whale hunters.
01:23
That is going to be a whale hunters.
01:27
That's a common pool resource because when they hunt it, they're going to decrease the availability for everybody else.
01:34
Whale seers or fans, i don't know what they call them, well watchers.
01:41
My bad, sorry.
01:43
That's going to be a public gut because they, they, are not being consumed, right? they're not like leaving the people.
01:53
They're not leaving the, what am i trying to say? they're not leaving the pool...