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Open-access goods versus private goods Spring is here, and Jake and his brother would like to go fishing for the weekend in Washington. Jake could
Open-access goods versus private goods Spring is here, and Jake and his brother would like to go fishing for the weekend in Washington. Jake could either go to the river in town where anyone can fish without a permit, or he could drive up to a pond located on his family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy). The fish in the private pond are considered and , whereas the fish in the river are considered and . In other words, the fish in the private pond are an example of , and the fish in the river are an example of . Fishing in the river will likely lead to because of which of the following reasons? All fishermen will choose to fish in the pond believing that there are more fish there. Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river. All fishermen will choose to fish in the river because of the limited access to the pond. Anyone can fish in the river, and
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