One way to overcome the tragedy of the commons is to
A) assign property rights so that someone owns the resource.
B) take away property rights so that no one owns the resource.
C) leave the market alone because the market will reach an equilibrium in which the efficient amount of the resource is used.
D) educate people in order to overcome the problem of rational ignorance.
E) None of the above answers is correct.

Question

Quizplus · Accepted Answer

Assigning property rights means that someone has ownership of the resource and has the right to enforce rules regarding its use. This gives individuals an incentive to conserve and manage the resource for their own benefit, rather than using it in an unsustainable way. It also allows for the possibility of trading or selling the rights to others who can make better use of them.

One Way to Overcome the Tragedy of the Commons Is