Common property resources are those resources which have property rights that are enforced collectively by members of a group or organization. Usually, the increased use of the resources by one individual led to a decrease of resources available for other individuals to consume. Ocean resources include; marine life such as fish and whales, open sea used for traveling and fishing, minerals found in the ocean such as oil, gas, sand among others. This paper will briefly describe the tragedy of commons as indicated in Hardin. It will also use Seabright to clarify how the rights of the common property ...
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