It is a classical result that the theory CT^- with the full induction scheme for the formulae containing the truth predicate, called CT, is not conservative over PA. In fact, it proves so called global reflection principle which says that an arbitrary arithmetical sentence provable in PA is true (in the sense of the truth predicate). On the other hand, a theorem by Kotlarski, Krajewski, and Lachlan shows that CT^- is conservative.
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More specifically, suppose kappa is an uncountable regular cardinal (typically kappa can be taken to be the size of the reals). We will review a variety of compactness principles, such as the tree property, stationary reflection, Rado's conjecture, etc., which claim that if all parts of size < kappa of a given structure of size kappa have some property, so does the whole structure.
We will discuss basic models in which such principles hold, consistency strength of these principles, implications between the principles and other hypotheses (such as CH), and some consequences.