Common Pool
Categories: Regulations, Econ
No relation to Deadpool.
No, a common pool does not mean everyone can collectively pee in it. Nor does it mean everyone can help themselves to a limited resource without concern for others who also need that resource.
Think of forests, fish, farmland, or underground water where, if they're used more than what can be replenished, scarcity results and everyone will be left with nothing. Sometimes an honor system can prevent overuse, but most of the time a government entity has to get involved.
A good example is fishing, usually regulated by individual states overseen by the U.S. Fish and Wildlife Service. In the state of Maryland, for example, striped bass, pike, shad, and herring all have restrictions on the season (to protect spawning fish), size, and certain types of gear; plus, there are restrictions on the amount you are allowed to catch. This gives fish the time to replenish, so there will always be enough for everyone.