Tuna fish are being driven to extinction because of overfishing. If all the fishermen know about this, why don't they fish less to slow down the extinction?

Question

Quizplus · Accepted Answer

The lack of well-defined property rights over the stock of tuna fish in the sea means that fishermen do not have a clear incentive to fish less in order to conserve the stock. Without clearly defined ownership, fishermen may feel that if they don't fish, someone else will, so there is little incentive to conserve the stock for future generations. As a result, overfishing continues to drive tuna fish towards extinction.

Tuna Fish Are Being Driven to Extinction Because of Overfishing