Game theory explanation to the failure of establishing public property

Abstract

Nowadays, we often face with the fact in our environment that certain public institutions, services do not really fulfill their tasks intended. Complaints regarding the low quality of public services are to be read in the daily press; we all experience the devastation of our environment. There are several scientific explanations to these phenomena. In this study we aim to provide a quite simple explanation to these phenomena based on the rational choice theory and by using the terms of the game theory. First, we examine the key terms of this topic, then we itemize the problems of public property, and finally by using the terms of the game theory we draw the following conclusion: assuming the members of a community follow their own interest, no public property shall be established, or existing public property shall fall into disrepair.