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Select one answer choice from the given options.
1

“Groundwater resources in the U.S., for instance, are often overused because of subsidies, a lack of tradable rights to water (‘use it or lose it’), and a lack of clear property rights to water tables. Overfishing in the oceans provides a better example. It is easy to imagine that cattle might be scarce, just as buffalo became scarce, if they were owned in common and were taken from one vast domain, rather than being privately owned on separate
ranches. While the exact analogue to barbed wire for fishing grounds in the ocean may be hard to conceive, assigning ownership rights to the ocean should not be much more difficult than assigning ownership rights to the radio frequency spectrum, as is currently being done throughout the world.” The implication is clear: _______.

Which choice most logically completes the text?

people have little incentive to conserve cattle.
cattle are much easier to kill than buffalo.
public or common ownership is better than private ownership.
private ownership is better than public or common ownership.