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Why the cow is not extinct Government of Botswana, Malawi, Namibia, and Zimbabwe Made elephants a private good People can kill elephants on their own property Landowners have an incentive to preserve the species Elephant populations have started to rise ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. * Importance of Property Rights Market fails to allocate resources efficiently Because property rights are not well established Some item of value does not have an owner with the legal authority to control it ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. * Importance of Property Rights The government can potentially solve the problem Help define property rights and thereby unleash market forces Regulate private behavior Use tax revenue to supply a good that the market fails to supply ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. * ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom u
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