Which of the following is a reason for the inadequacy in ad hoc attempts-internalizing external costs and assigning property rights to unowned goods such as wild species-to repair market failures?

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Internalizing external costs and assigning property rights to unowned goods such as wild species are two responses to market failures.But there are good reasons for thinking that such ad hoc attempts to repair market failures are environmentally inadequate.One important reason is what has been called the first-generation problem.That is,we learn about market failures and thereby prevent harms in the future only by sacrificing the "first generation" as a means of gaining this information.

Which of the Following Is a Reason for the Inadequacy