Common-property fishing grounds are
A)often underexploited because non-excludability means there is little investment in the resource.
B)always efficiently exploited because fishermen now understand the dangers of over-fishing.
C)often overexploited because individual fishermen have no incentive to leave fish for the "next" fisherman.
D)often overexploited because fishing grounds are rivalrous and excludable.
E)often overexploited because fishermen are concerned with preserving fish stocks for future fishermen.

Question

Quizplus · Accepted Answer

Common-property fishing grounds are not owned by any individual, and therefore there is no incentive for any individual fisherman to conserve the resource. Each fisherman wants to maximize their catch before someone else catches the fish, leading to overexploitation of the resource. This is known as the "tragedy of the commons."

Common-Property Fishing Grounds Are