Common-pool resources can best be defined as?

Common-pool resources are best defined as resources that are accessible to everyone without restriction. This definition captures the essence of common-pool resources, which are characterized by being non-excludable and rivalrous. This means that while individuals can access them freely, their usage by one person can diminish availability for others, leading to potential overuse or depletion.

For instance, fisheries, groundwater, and forests are classic examples of common-pool resources. When a resource is available to everyone without restrictions, it can lead to a situation where individuals prioritize their own short-term benefits over the long-term sustainability of the resource. This highlights the importance of collective management and regulatory frameworks to prevent over-exploitation.

In contrast, private resources owned by individuals are exclusive and can be regulated by the owners, thus not fitting the definition of common-pool resources. Exclusive resources that can be monopolized refer to situations where a single entity controls access, contradicting the open-access nature of common-pool resources. Additionally, resources that can only be utilized by the government imply a level of restriction and exclusivity that is not characteristic of common-pool resources, which inherently allow broader access.