Pollution occurs because property rights to exhaustible resources are well defined.

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Pollution occurs because property rights to exhaustible resources are not well defined. This leads to a tragedy of the commons where people have an incentive to overuse and pollute resources because they don't bear the full costs of their actions. Establishing clear and enforceable property rights can help reduce pollution by giving individuals and firms incentives to conserve and protect resources.

Pollution Occurs Because Property Rights to Exhaustible Resources Are Well