Business Finance Homework Help

Fishbank is a simulation that you can play online. We had it done in class. Write a short 2 page, double-spaced, paper answering the following questions. Be sure to include additional outside references, resources, websites, etc, to support your article review and expand upon the learning in the course.

(My team is team 5 and in the attachment, the data of team 5 are highlighted.)

(Our group mistakenly disregard of the overfishing situation, and kept buying the ships at a low price, wishing to sell them in the future. But finally no one was willing to buy ships because of there is no fish and no profit. )

1. What is your understanding of “The Tragedy of the Commons” as it relates to your experience in the
   simulation? How did your team view fish stocks at the beginning of the simulation? At the end? What
   caused any changes?
2. ow does your experience this simulation relate to the idea of Natural Capital? What natural capital
   is material to fishing and how would you price it? (think about the environmental valuation methods
   discussed in the Sustainable MBA).
3. What strategies, if any, would you have done employed at the individual, team, and community level
   would you have employed to create a different outcome?
4. What controls or Market Based Incentives (MBIs) would you suggest applying?
5. Think of another Tragedy of the Commons. How would you apply the lessons learned in the
   simulation?