African elephant populations have declined by more than 50% over the past 20 years due mostly to the slaughter of these beautiful animals for their ivory tusks. Neither government bans on the hunting of these elephants nor a worldwide ban on the sale of ivory has been able to help increase elephant populations. A handful of African countries, however, established systems of private property rights over elephants-essentially assigning ownership of the elephants to individuals. Will this new system help to increase elephant populations? Explain why or why not. Will this new system eliminate elephant hunting?
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