Explain how privatizing endangered species will save them from extinction. Give an example. Use the incentives of private property owners and tragedy of the commons in your answer.

Wildlife is considered as a public good to which no private individual has any interest to protect and preserve it making the protection and preservation on the government's shoulder. But as common people can have access to these goods they might even harm them as well. This is simply a case of the tragedy of commons.

Now when people get private ownership of the lands and also the species living on lands, there will be great incentives for them to take better care of the species. Because these private properties now will get private owners incentives to have economic benefits. Private owners can then use them to have profit from tourism etc. and will have great reason to invest in growing and maintaining the animal population. These incentives of private owners solve the problems of the tragedy of commons and hence it is argued that endangered species should be privatized.