Sailboats and motorboats share Emerson Lake, which nobody owns.The sailors say the motorboats are a hazard; the motorboaters say it is the other way around.Frequent collisions occur, with many injuries and some deaths every year.If the City of Emerson were to buy the lake itself,

Question

Quizplus · Accepted Answer

Even if the city buys the lake, it would still need to assign property rights to ensure efficient use of the lake. Without property rights, both sailboats and motorboats would continue to use the lake with no regard for each other's safety, causing frequent collisions and injuries. The city would need to determine rules and regulations for the use of the lake, including speed limits, designated areas for sailboats and motorboats, and safety requirements. Only then could the issue of safety be properly addressed.

Sailboats and Motorboats Share Emerson Lake, Which Nobody Owns