Question: Why do you think strong property right is vital for efficient market operation? What are the different regimes arising from various level of property

Why do you think strong property right is vital for efficient market

Why do you think strong property right is vital for efficient market operation? What are the different regimes arising from various level of property right provisions? In the light of your asnwer so far, explanin the concept of 'tragedy of the commons' with an apprropriate example.

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