Property rights can help manage environmental resources from "summary" of Economics of the Environment by Robert N. Stavins
Property rights play a crucial role in the management of environmental resources. When property rights are well-defined and enforced, individuals have an incentive to use resources efficiently and sustainably. This is because they bear the costs or benefits of their actions. In the absence of property rights, individuals may exploit resources without considering the long-term consequences, leading to overuse or degradation. By assigning property rights to environmental resources, such as fisheries or forests, individuals or groups have a stake in their preservation. They are more likely to invest in sustainable practices, knowing that they will benefit from the future value of the resource. Property rights create a sense of ownership, encouraging individuals to protect ...
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