From TheBestLinks.com
Paradox that arise from a social decision situation in which (voluntary) contributions is needed to attain some common and shared goal or end-result, and where the rational choice of the individual is to "free-ride". For instance, if it was possible for you to be a non-paying passenger on a bus ride, that's the "rational" thing for you to do, in so far as it would leave you better off. You would both get the ride and keeps the fare money too. But in this situation, if everybody does the individually rational thing, that collectively irrational. The common goal of getting bus rides from stop A to B, could only be sustained if most or all are paying passangers.
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