Another ecological market failure is presented by the overutilisation of an otherwise renewable resource at a point in time, or within a short period of time.
2.
Such overutilisation usually occurs when the resource in question has poorly defined ( or non-existing ) property rights attached to it while too many market agents engage in activity simultaneously for the resource to be able to sustain it all.
3.
Unlike a stock factor, a fund factor cannot be utilised ( decumulated ) at will, as its rate of utilisation depends on the distinct physical properties of the fund ( labour power and farm land, for instance, may run the risk of overutilisation and exhaustion if proper care is not taken ).
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