1. Property rights and incentives Suppose Walden Pond is a common-property resource. anyone can fish without having to pay for access. Swan Lake is privately owned - people who want to fish must purchase one of a limited number of permits from the lake's owner each season. According to the incentives that private ownership creates, which of the following would you expect to happen? Check all that apple O The owner of Swan Lake is not likely to limit the number of fishing permits, and, therefore, a plentiful stock of fish will not be maintained. Walden Pond is more likely to experience a dwindling stock of fish each season. O The owner of Swan Lake is likely to keep the lake clean and unpolluted. Grade It Now Save & Continue Continue without saving