Overextraction of a resource in the present can occur because

Question

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Property rights provide incentives for individuals to conserve resources and use them in a sustainable manner. In the absence of clearly defined property rights, there is a tragedy of the commons, where individuals may overuse or deplete resources because they do not bear the full costs of their actions. Therefore, overextraction of a resource in the present can occur when property rights are not clearly defined.

Overextraction of a Resource in the Present Can Occur Because