There are six farmers in Great Britain with access to government land to graze t

Question

There are six farmers in Great Britain with access to government land to graze their cows for free. They all must share the land. Each farmer has an individual incentive to put as many of his cows on the land to increase his profits but each additional cow depletes the resources for all six farmers and if the farmers put too many cows on the pasture, the grass will be depleted and all the cows will starve. The grass is a limited resource. What strategy do you propose to the farmers?
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Explanation / Answer

The grass is a scarce resource and available in limited quantities. Therefore, the farmers need to make the optimum use of this limited resource. Instead of competing with each other, they should form a group, put equal efforts and share their profits equally. This will make sure that each of the farmers are equally benefitted. The second strategy can be to allocate the amount of grass among farmers and let them make use of that. They can feed as much as cow they want to feed from that allocated grass.

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